Change of Guard

John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. John Keells Holdings Chairman steps down at the end of next year, paving the way Joint Managing Director Susantha Ratnayake to take over the reigns. Ajit Gunawardane, the other Joint Managing Director, will step up as Deputy Chairman, when the change over takes place.

Vivendra Lintotawela, JKH’s current Chairman, said he was retiring from Dec. 31, 2005, “citing a need for a change in lifestyle that would enable him to pursue wider interests,” the diversified conglomerate said Wednesday.

JKH, which is currently Sri Lanka’s largest quoted company by way of market capitalisation, has undergone a rapid restructuring process under Lintotawela’s helm.

In 2003, JKH restructured its portfolio with an eye on the future and redesigned its operating model in line with the global best practices of corporate governance.

Under Lintotawela’s stewardship, JKH has nearly moved out of plantations, sold off its tea retailing arm, IT training school and pruned down Ceylon Cold Stores. The leisure unit w