Seven directors resign at Lanka Hospitals in unexplained move

More than half the board of directors at Lanka Hospitals Corp Ltd, formerly Apollo hospitals, have resigned en masse on May 9 with no reason given by the company for the move.
The resignations were announced today (May 15) by the company without any comment. The directors who stepped down were - Keith Bernard, H. A. C. Siriwardena, Dr. Anil Abeywickrema, N.J. Munasinghe, Ms. Uma Rajamanthri, Prof. Dilani Lokuhetty and Dr. Lalith Wijesundera
The remaining directors of the 13-member directorate are Dr. Sarath Paranavitane – Chairman, Ven. Thiniyawala Palitha Thero, Daljit Singh, K. K. Sundaram Srivastava, T. L. Weeratne and Jayantha Munasinghe (recently appointed on March 20, 2017)
According to its last financial accounts, Lanka Hospitals reported a post-tax profit of Rs. 212 million in quarter ending March 31, 2017 against Rs.193 million in the same 2016 quarter while revenue in the same periods was Rs.1.5 billion and Rs.1.38 billion, respectively.
State-owned Sri Lanka Insurance Corporation is the majority shareholder of the company with a 54.51 per cent stake while India’s Fortis Global Healthcare with 28.66 per cent is the second largest shareholder and is represented on the board with two nominees. The directors who stepped down were appointed with the advent of the Maithripala Sirisena-Ranil Wickremesinghe-led government in 2015.