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Eshana De Silva to replace Kavan Ratnayaka as NDB Chairman

28 Apr 2020

By Charindra Chandrasena Former Pan Asia Banking Corporation (PABC) Chairman and head of Esna Group of Companies Eshana De Silva is tipped to be appointed Chairman of National Development Bank (NDB), The Sunday Morning Business reliably learns. If confirmed, he would assume duties following the resignation of the current Chairman Kavan Ratnayaka, who has already submitted his resignation to take effect on 30 April 2020 citing 'personal reasons'. NDB communicated this to the Colombo Stock Exchange (CSE) today (28) in a corporate disclosure. Ratnayaka was appointed NDB Chairman in April 2019 following the retirement of Ananda Athukorala. Eshana De Silva is the Co-Chairman of Esna Group of Companies and leads the conglomerate, which has interests in power generation, renewable energy, shipping, logistics, fuel bunkering, transport, banking and finance, graphite mining and lubricants. Additionally he is the Chairman of Hanjin Shipping Lanka (Pvt) Ltd. He was appointed Chairman of PABC in September 2016, following Nimal Perera’s stepping down after completing nine years as the bank’s Chairman, and resigned in July 2017. When contacted NDB sources confirmed Ratnayaka’s resignation, but added that the reasons have not been specified. It also said that his successor had not been announced internally yet. Our attempts to reach Ratnayaka were unsuccessful. Ratnayaka had functioned as the Chairman of The Sri Lanka Ports Authority (SLPA), Sri Lanka Tourism Development Authority (SLTDA) and Associated Newspapers of Ceylon Ltd (ANCL) and as the Group Chief Corporate Officer of Cargills Ceylon PLC from August 2013 to January 2019 and the Group Chief Corporate Officer of Dialog Axiata PLC from October 2007 to December 2012.

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