CEO uncertainty put SriLankan on autopilot

Tuesday, 30 January 2018 00:29 - - {{hitsCtrl.values.hits}}

By Chathuri Dissanayake

Following reports of the SriLankan Airlines Board of Directors removing CEO Suren Ratwatte, the Public Enterprise Development Ministry wrote to the Company Secretary yesterday, requesting confirmation on the decision. The Board is yet to announce the new appointment officially.

The Ministry has been kept in the dark about the decision of the Board of Directors and expects clarification on the issue today, Daily FT learnt. Attempts made by Daily FT to contact Public Enterprise Development Minister Kabir Hashim failed.

It was reported that the Board favours Manoj Gunawardena, who previously held the position during the Rajapaksa regime for three years starting 2008. However, some in the industry are opposed to the possible appointment, owing to his previous performance as CEO.

“The company needs new blood,” an anonymous industry source told Daily FT.

Furthermore, a member of the officials committee said that the decision regarding the CEO will be taken only when the new board is appointed. “The board has to be appointed first we haven’t done that yet. So this will come only after that,” the official said.

The current SriLankan Airlines Board of Directors except for one member sent in their offer to resign to Prime Minister Ranil Wickremesinghe, who heads the Ministerial Committee responsible for the National Airline, following a board decision taken in December 2017.

Both SriLankan Airlines Chairman Ajit Dias and Suren Ratwatte have not returned from their overseas trips. Dias however is expected to return to the country this week, as he claimed that he will chair a board meeting to finalise the decision to remove CEO Suren Ratwatte this week.

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