Ceylinco Insurance held its Annual General Meeting (AGM) on Wednesday sans Lalith Kotelawala with some shareholders acknowledging the contribution the disgraced former chairman has made to the insurance industry, a source from the board of directors said.

“Godwin Perera, a well-known marketer, was also elected an independent director as per agenda,” the source said, adding that there wasn’t any major issues vis-à-vis Kotelawala at the meeting. The former chairman withdrew plans to seek re-election after several protests over his re-election bid.

The source said a new chairman will be picked at a board meeting later this month.