CSE appoints Dilshan Wirasekara as new Chairman

• Wirasekara to take up CSE leadership after Fernando informs board his intention to retire by rotation 
• New chief to take up role from June 24 
• Outgoing Chairman Fernando says pleased with advancement of CSE in last two years

The capital market operator, the Colombo Stock Exchange (CSE), announced the appointment of Director Dilshan Wirasekara as its new Chairman, with effect from June 24, 2022.

The appointment of the new head for the CSE came after the current Chairman Dumith Fernando having informed the board of the market operator of his intention to retire by rotation on June 23, 2022, at the conclusion of his current term as a Director.

The appointment of Wirasekara, currently Director and Chief Executive Officer of First Capital Holdings PLC, as the next Chairman of the CSE, was taken at the monthly board meeting held on May 19.

According to the Articles of Association of the CSE, its chair is chosen from among the five directors elected by the members of the CSE. The appointment of Wirasekara is in line with the CSE’s normal board succession practice, the CSE affirmed in a statement to the media yesterday.

Outgoing Chairman Fernando said he is pleased with the advancement of the CSE in the last two years, as the market has set records across capital raising, trading volumes and participation alongside significant wealth creation for investors. 

“The CSE is also financially stronger than it has ever been and I am pleased to hand over my role following the institution’s highest ever profitability and capital reserves position. 

Credit for this is due to my fellow board members, management and staff as well as all those stakeholders, who collaborated with us, including our regulator, the Securities and Exchange Commission of Sri Lanka and stockbroking and investor communities,” he said. 

Commenting on the appointment of his successor, Fernando pointed out that Wirasekara has been a “critical and energetic” member of the board. 

“The board and I have full confidence that he will continue to work with all stakeholders to build on our recent efforts to transform into a modern-day multi-product exchange,” said Fernando.

Commenting on being appointed as the next chief of the CSE, Wirasekara said he is looking forward to continuing the good progress at the CSE and working with the board and CSE team together, regulator and industry to advance the ambitious capital market development plans.