Nihal quits CSE Board

Longstanding member and former Chairman Nihal Fonseka has resigned from the Board of Directors of the Colombo Stock Exchange as well as the Central Depository System.

He has stepped down ahead of the CSE’s Annual General Meeting for 2011 which is likely to be held mid-this year. Fonseka, who is also CEO/Director of DFCC Bank, assumed Chairmanship of CSE in 2006 and served for two terms.

He remained on the Board as a representative of Acuity Stockbrokers as well after Krishan Balendra took over. A new person is to be appointed to CSE Board to fill the vacancy created following Fonseka’s resignation.

Following Fonseka’s exit, the Board of Directors of CSE/CDS comprises Krishan Balendra (Chairman), Vajira Kulatilaka, Dr. Saman Kelegama, M. R. Prelis, Dakshitha T. W. Thalgodapitiya, Hiran M. C. de Alwis and Ms. Chaudhri Salgado (Secretaries to the Board)