US-based Priyan Fernando succeeds Ken Balendra as Chairman of Brandix
View(s):Brandix Lanka Ltd this week said US-based banker Priyan Fernando, currently a non-executive Director, has taken over as its Chairman effective 3rd May 2013.
Mr. Fernando, Executive Vice President of Global Business Services at American Express, New York, succeeds Ken Balendra following the latter’s retirement after 10 years as Chairman of Sri Lanka’s single largest apparel exporter, the company announced this week.
Picture shows - Brandix’s outgoing Chairman Ken Balendra (left) and his successor Priyan Fernando
Mr. Balendra’s involvement with Brandix precedes the incorporation of the company. He was persuaded to join the Board of Phoenix Ventures Limited, the holding company of Brandix, in October 2001, and will continue as its Chairman after relinquishing chairmanship of Brandix. Mr. Balendra was appointed the founder Chairman of Brandix on 1st June 2003. During his decade of leadership at Brandix, Mr. Balendra was instrumental in the adoption by the company of the corporate and reporting structures and the values of a public listed company, even though the company is privately owned. This included the formation of audit and remuneration committees; best practices in corporate governance, risk management, corporate social responsibility and sustainability; and the production of annual reports, establishing a high degree of transparency. Mr. Balendra also provided visionary leadership for expansion and growth that saw Brandix triple its earnings and venture into India and Bangladesh during his tenure, the statement said.
Referring to Mr. Balendra’s successor, Brandix CEO Ashroff Omar said: “Over the past two and a half years on the Board, Priyan Fernando has made valuable contributions to the growth of Brandix, and his extensive experience in corporate affairs at the global level has been of immense benefit. His appointment as Chairman will ensure that the strong leadership provided by Mr. Balendra will be continued.”
Brandix’s new Chairman is based at the American Express World Headquarters in New York. He heads the organisation that provides key business operations functions including Finance, Procurement, Real Estate Services, Human Resources and Business Transformation for the American Express enterprise worldwide.
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