A new Chairman and a director have been appointed at Mercantile Investments Plc.
The announcement of new Chairman sees Gerard Ondaatjie holding on to the Managing Director post only as opposed to Chairman and Managing Director previously.
The move is part of good corporate governance and in compliance with Central Bank directions. Son of senior business leader George Ondaatjie, Gerard joined the Mercantile Investments Board in December 1993. Ondaatjie family and related parties control Mercantile Investments.
The new Chairman is Saroja Hemakumar Jayawickrema Weerasuriya who holds a B.Sc (London), MICE, FIE (SL), FSSE (SL) and C.Eng. He was first appointed to the Board on 26 January 2011. Weerasuriya counts for over 30 years experience as a Consultant in Civil, and Structural Engineering design and project management in UK, Sri Lanka, India and the Maldives. He is also a Director of International Civil Engineering Consultants Ltd.
The Company also announced the resignation of Mignonne Bernadette Assauw with effect from 13 January 2012. He leaves the Board after serving 23 years.
This vacancy was filled by Punyakanthi T.K. Navaratne as an Independent Non Executive Director with effect from 17 January 2012. Navaratne is presently Director – Legal at WSO2 Lanka Ltd. She has also been associated with Paul Ratnayeke Associates as an Associate Lawyer from 1995 to 1997 and a Partner of the firm from 1997 to December 1998. She holds a Bachelor of Laws (LLB) degree from the University of Colombo and is an Attorney at Law.