Dilshan Wirasekara appointed new CSE Chairman

Dilshan Wirasekara

Dumith Fernando

Dilshan Wirasekara has been appointed as the new Chairman of the Colombo Stock Exchange. 

He succeeds Dumith Fernando who served as Chairman since July 2020 has informed the Board of his intention to retire by rotation on 23 June at the conclusion of his current term as a Director. 

Subsequently, at its regular monthly Board meeting held on 19 May, the Board of the CSE elected Director Dilshan Wirasekara to succeed Fernando as Chairman with effect from 24 June 2022. 

Wirasekara is currently Director and Chief Executive Officer of First Capital Holdings PLC.

According to the Articles of Association of the CSE, its Chair is chosen from among the five directors elected by the members of the CSE. The appointment of Wirasekara is in line with the CSEs normal board succession practice.

The outgoing Chairman Fernando said: “We are very pleased with the advancement of the CSE in the last two years.  The market has set records across capital raising, trading volumes and participation alongside significant wealth creation for investors. The CSE is also financially stronger than it has ever been, and I am pleased to hand over my role following the institutions highest-ever profitability and capital reserves position. 

“Credit for this is due to my fellow Board members, management and staff as well as all those stakeholders who collaborated with us including our regulator the Securities and Exchange Commission of Sri Lanka and the stock broking and investor communities.”

Commenting on the appointment of his successor, he further stated: “I have had the pleasure of serving as a Director with Dilshan for five years where he has been a critical and energetic member of the board. The board and I have full confidence that he will continue to work with all stakeholders to build on our recent efforts to transform into a modern-day multi-product exchange. I look forward to supporting Dilshan over the next few weeks to ensure a smooth transition.”

Wirasekara thanked both the outgoing chairman for his leadership of the CSE over the last two years and the CSE Board for the confidence placed in him. He further stated: “I hope to continue the good progress at the CSE and look forward to working with the Board and the CSE team together with the regulator and the industry to advance our ambitious capital market development plans.”