CIC has new Chairman
View(s):Top lawyer, Harsha Amarasekera appointed CIC Holdings Chairman Diversified group CIC Holdings PLC was named as its new Chairman, succeeding B.R.L (Lakshman) Fernando who retired after 18 years in that position.A non-executive Director of CIC Holdings PLC since 2005, Mr. Amarasekera PC was serving as acting Chairman of the Board since 1 January 2014 following the retirement of Mr. Fernando on 31 December 2013, according to a company statement.
Mr. Amarasekera will be the fourth Chairman of the diversified agriculture/chemical company which is considered as one of the leading agricultural value addition companies in the country. The company also went through a major restructuring last year. “Amarasekera’s appointment is effective 23 May 2014,” the announcement said on Monday.
This is the first time CIC, whose trademark brand is Dulux paint, has appointed an outsider/non-company employee as its chairman. However there has been an increasing, recent trend in the appointment of outside, respected personalities as chairman of companies as non-executive chairman.
Mr. Amarasekera, an independent director of several leading companies listed on the Colombo Stock Exchange, is a leading lawyer having a wide practice in the original courts as well as in the appellate courts. His wide-ranging specialties in the profession cover commercial law, business law, securities law, banking law and intellectual property law.