Financial Times

Hayleys mum on rumoured changes
Hayleys Group Chairman Sunil Mendis is likely to retire towards the middle of this year and could be succeeded by his deputy Rajan Yatawara, informed sources said.

The company declined to confirm or deny the reports of the changes which have been circulating within the conglomerate because Mendis reaches 60 years of age by end-June.

Company officials said that there was no rule that Mendis, who joined Hayleys in 1962 and became chairman in 1993, would have to retire on reaching 60. Although this was the tradition set by the late D. S. Jayasundera, a former chairman, Mendis' term is extendable.

Yatawara, who became deputy chairman in October 2001, joined Hayleys in 1966 and has been the CEO of Haycarb, the subsidiary that exports activated carbon, since its inception. Among the senior directors of Hayleys are N. G. Wickremeratne, Richard Ebell and Mohan Pandithage.

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