Shermal new Chemanex CEO, Boyagoda joins Board

Chemanex PLC has announced the appointment of Shermal Fernando as the new CEO whilst Senior Banker Mangala Boyagoda has joined the Board as a Non-Executive Independent Director.

Shermal is the Group Finance Director/Company Secretary of CIC Holdings PLC, the parent of Chemanex. He holds a B.Sc. in physical science from the University of Colombo and is a Fellow Member of the Chartered Institute of Management Accountants UK with over 25 years of experience. He has spent over 18 years of his professional career with CIC. Currently he serves as a non-executive director on the boards of several unlisted companies of the Group. 

Boyagoda is a senior banker possessing over 35 years of experience, holding key positions in the field of financial services. He is the former CEO of Standard Chartered Bank. He is the present Chairman of Wealth Lanka Management Ltd., Director SAFE Holdings Ltd., Wealth Trust Securities Ltd., Asset Trust Management Ltd., Ceylon Hotels Corporation PLC, Sierra Constructions Ltd., Dankotuwa Porcelain PLC, Ceylinco Insurance General Ltd., Faber Capital Ltd., Cargills Bank Ltd. and Ambeon PLC, among others. 

He has served as a Consultant to the ADB, the World Bank, the Central Bank of Sri Lanka and the SEC of Sri Lanka and Bangladesh. He is a former President of the Forex Association of Sri Lanka. He holds a Master’s Degree in Business Administration from the Irish University (European Union).

Following the changes, the new Board of Directors of Chemanex PLC comprises of P. R. Saldin as Chairman, S. P. S. Ranatunga, S. A. B. Ekanayake and E. M. M. Boyagoda.