Browns’ MD Murali resigning, company says
View(s):Browns Group Managing Director/CEO Murali Prakash is resigning from the company with Ishara Nanayakkara taking over as the top official, the company said on Wednesday. The Business Times last week exclusively reported this development quoting Mr. Prakash as saying he was quitting due to some personal commitments in Australia from August onwards.
In a filing to the Colombo Stock Exchange (CSE), the company said Ishara Nanayakara, Executive chairman of Browns Group and Deputy Chairman of the LOLC Group will lead the company with the support of the experienced and ‘highly skilled management team’.
It said the move is expected to further enhance the synergy between the two groups – LOLC and Browns. Mr. Prakash has served the company for the past seven years.
The statement didn’t say whether a new managing director/CEO would be appointed or not. Browns’ is controlled by the LOLC Group whose main stakeholder is the Nanayakkara family (Ishara).
New chairperson at Alliance Finance
Sunil Karunanayake, independent-non executive director of Alliance Finance Co is taking over as chairperson of the company with effect from June 1, the company announced on Wednesday.
The previous chairperson, Ms. Kissara de Silva, is stepping down after serving nine years as an executive director, the maximum term permitted under the Finance Companies Act.
Anura Ekanayake, new chairman at Asia Siyaka Commodities
Dr. Anura Ekanayake, a non-executive director, has been appointed as the Chairman of Asia Siyaka Commodities from May 22, the company said.
A.A.Wijepala, who served as an independent, non-executive director resigned on May 7. Other changes announced by the company reveals that Tissa Gunatilleke and Anil Hulangamuwa were appointed as independent, non-executive directors, Sarath Sirisena was appointed as a non-executive director, and Yashojith Kuruneru and Senaka Gamini Amarasuriya were appointed as executive directors.
Following Neil Terrance Bogahalande relinquishing executive functions, he has been re- designated as a non-executive director.
Asanga’s leisure unit offers shares
Anilana Hotels and Properties Ltd, owned by businessman Asanga Seneviratne is offering 40 million ordinary voting shares at Rs. 12 per share on the Diri Savi Board, a stock exchange filing stated.
Date of opening of the subscription list is June 12, while the prospectus would be available on June 3, the announcement said.
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