Mineka Wickramasinghe retires as CBL Chairman

Friday, 3 July 2015 00:00 - - {{hitsCtrl.values.hits}}

After almost 48 years at the helm of the organisation he founded in 1968, Mineka P. Wickramasingha announced his retirement from the position of Chairman of the Ceylon Biscuits (CBL) group at a recent board meeting held on 24 June.

Current Deputy Chairman Ramya Wickramasingha was elected by the Board as the new Chairman of the Group. Mineka Wickramasingha will continue to mentor the group in his new role as President Emeritus.

In a glowing tribute the company’s founder, the CBL Board expressed its deep gratitude for the leadership role played by the Chairman in transforming the organisation into the prestigious food conglomerate it is today, with a staff of over 5,000. They asserted that it was largely his determination, vision and commitment that had helped the group face and overcome the many challenges it had encountered during its years of operation.

CBL started its operations when Wickramasingha presented a proposal to the Ministry of Education to provide a high protein biscuit to schoolchildren under the CARE program. The biscuit was developed in-house by the founder using bread flour, soybean oil, milk powder and other limited raw materials available at the time. Facing several challenges along the way, from government restrictions and expansion challenges to competition from imported biscuits, Wickramasingha did not relent in the face of adversity but persevered to create a respected and eminent establishment.

Having become the local market leader by capturing more than a 50% share of the local biscuit market, Wickramasingha was one of the first entrepreneurs to venture into the Indian market. He was a champion of the Sri Lankan entrepreneur and was unafraid to cry foul when unfair practices hindered national growth. He also took on the personal challenge of increasing the export of local biscuits and from modest successes in the early 1970s, the group now exports to over 55 countries and is the largest exporter of biscuits and confectionery in the country. The group enjoys market leadership in biscuits, chocolates, textured soy, cereals, cakes, organic fruits and coconuts under the brand names Munchee, Ritzbury, Lankasoy, Samaposha, Tiara and Cecil.

Wickramasingha is loved and revered by his employees. He was tough but fair with them. He shared the group’s success with them, allocating 10% of the company’s shares to the workers at the inception. This bond is so strong that very often the team is referred to as the ‘CBL Family’.

The board also noted the contribution the founder Chairman made in the region of national policymaking. He was always outspoken and the business community, political leaders and government officials frequently sought his views and advice. He always had the nation’s interest at heart and was proud to lead a group of companies that was truly homegrown and deeply rooted in the local economy.

In addition to expressing its deep gratitude for all he had done for the group, the board wished him a long and happy retired life.