July 21, 2011 (LBO) - Sri Lanka's Hayleys conglomerate has appointed as deputy chairman its single largest shareholder, Dhammika Perera, who is a big investor in the stock market, controlling several listed firms.
A stock exchange filing said the appointment of Perera as deputy chairman was with effect from July 20.
Perera was appointed to the board of Hayleys in 2008 as a non-executive director.
His elevation as deputy chairman comes in the wake of changes in the Hayleys board last month in which three new directors were appointed, two of whom also serve on the boards of firms controlled by Perera.
Those appointments came after two independent directors decided not to seek re-election at Hayleys' annual general meeting held on June 29 in the wake of a bid for full control of the group by Perera.
Perera, who is also secretary to the transport ministry, owns 22.59 percent of Hayleys, according to the company's last annual report.
However, Perera's controlling interest is about 30 percent when considering stakes held in Hayleys by Royal Ceramics Lanka and LB Finance, which he controls.
source - www.lbo.lk
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