Resignations at SLT as Board overhaul begins

Sri Lanka Telecom (SLT) yesterday saw its Board members resign after President Ranil Wickremesinghe directed the Treasury Secretary last week to reconstitute the Board with immediate effect.

SLT PLC yesterday disclosed to the Colombo Stock Exchange (CSE) that Chairman and Independent Non-Executive Director Reyaz Mihular tendered his resignation with effect from 29 January 2024.

The five other Directors also tendered their resignation, a separate filing to the CSE said.
The Directors are Rohan Fernando (former SLT Chairman holding 120,000 shares), Lalith Seneviratne, Ranjith Rubasinghe, Mohan Weerakoon, and Treasury representative K.A. Vimalenthirarajh (holding 1,300 shares).

The former SLT Chairman Fernando also stepped down as Chairman from SLT Subsidiary eChanneling PLC.

On Friday (26 January), Secretary to President Saman Ekanayake, under the directive of President Wickremesinghe, announced the appointment of a new set of Board of Directors to SLT.

The new members are; K.D.D.D. Arandara – Chairman, Dr. K.A.S. Keeragala – Member, Attorney-at-Law Dinesh Vidanapathirana – Member, Prof.  K.M. Liyanage – Member,  Dr. D.M.I.S. Dassanayake – Member and Chathura Mohottigedara – Treasury Representative.

As reported by our sister paper the Daily FT, reconstitution is due to the government being irked with SLT-Mobitel challenging in Court the proposed merger between telco giant Dialog Axiata and Airtel.

*The article was updated to correct the name of Treasury Representative Chathura Mohottigedara. The error is regretted