Husein Esufally, new Deputy Chairman at Janashakthi Insurance
View(s):In a rare move for family-controlled companies, Janashakthi Insurance this week appointed well-known corporate leader Husein Esufally to a new position of Deputy Chairman.
Mr. Esufally is Chairman of the Hemas Group after serving a long spell as its CEO. Business analysts said that it’s unusual for the chairman of a family conglomerate to be appointed to a high position on the board of another family-run company. “I think the Schaffter family which founded Janashakthi wants to keep the company independent of the family and bring respected professionals on the board to provide independent direction. It’s a very good move in terms of governance, transparency and professional management,” one business leader said. Saman Jude Fernando has been appointed as Director/CEO, according to a company announcement on Wednesday.
W.T. Ellawala is the chairman of the company with P.A. Schaffter as the Managing Director. The other directors are Anushya Coomaraswamy, Ramesh Schaffter, M. Mathews, L.C.R. Wijetunge and A.D.E.I Perera