New independent director at Alliance Finance

Alliance Finance Co Plc has appointed Sunil Karunanayake as an Independent Non Executive Director to its Board of Directors with effect from 26 January 2012.

Karunanayake is a Fellow member of the Institute of Chartered Accountants Sri Lanka (FCA), Chartered Institute of Management Accountants UK (FCMA) and also hold a MBA from the Post Graduate Institute of Management, of the University of Sri Jayawardenapura.

He counts over 30 years experience in active commercial and financial management and related areas. His 25 years of the professional career have been with Unilever Tea Division in Sri Lanka as the Commercial Controller in addition to being Director/Secretary of Brooke Bond Ceylon Ltd.

He continues to serve as a Committee member of the Exporters Association of Sri Lanka under the Ceylon Chamber of Commerce and was a Board member of the Mercantile Services Provident Society, the largest private provident fund in Sri Lanka.

Having left Unilever in 2004, Karunanayake pursued a career in management consultant/audit practice up to October 2004 prior to joining the Institute of Chartered Accountants of Sri Lanka as the Project Director.

Additionally from 2008, he assumed responsibility for the Continuing Professional Development (CPD) and Member Services functions as well as the Secretary of the Company Law and other Legislation Committee.

Following completion of project related work in October 2010, Karunanayake left the ICASL and took up the appointment as Chief Financial Consultant at Associated Newspapers of Ceylon Ltd. He also serves as a Non Executive Director of Ceylon Grain Elevators Plc, Three Acre Farms Plc and Orient Garments Plc and functions as the Chairman of the Audit Committees of these companies.