Business

Piramal Glass Ceylon CEO Sanjay Tiwari steps down after 13 years

Sanjay Tiwari has stepped down from his position as CEO of Piramal Glass Ceylon PLC after leading Sri Lanka’s sole manufacturer of glass bottles for more than 13 years, the company announced in a stock exchange filing.

The reasons for the resignation were not immediately clear. Piramal Glass Ceylon PLC reported its nine month ended results of December 31, 2018 with a turnover of Rs. 5,485 million & PAT of 154 million. The turnover for nine months at Rs. 5,485 million showed an 8% growth as against the previous year sale of Rs. 5,067 million. The export sales grew by 31% from Rs. 1,627 million to 2,123 million whilst a drop of 3% was seen in the domestic market from Rs. 3,440 million in F18 to Rs. 3,362 million in F19.

Tiwari was appointed to the Board of Piramal Glass Ceylon PLC (formerly known as Ceylon Glass Company) in December 2005 as CEO & Executive Director. Prior to that, he joined the Piramal Group in June 2004 as Vice President – Finance & Commercial, heading Accounts, Finance, IT, Logistics and Supply Chain of Piramal Glass Ltd.  Since 2013 he also served as Chief Operating Officer for Piramal Glass Limited, India.

He is also the current President of “The Srilanka Ceramic & Glass Council”, Chairman of “Centre of Technical Excellence” (Joint venture of SCGC & ITI of Srilanka ), Vice President of “The Indo Lanka Chamber of Commerce” Srilanka, Founder President of the Indian CEO Forum of Sri lanka, and in the Executive Committees of the Industrial Association of Sri Lanka Limited (IASL) & Sri Lanka Institute of Packaging.

Tiwari will remain in the Board of the company as a Non Executive, Non Independent Director.

Although Piramal Glass Ceylon has not named a replacement for Tiwari, the former Vice President (Marketing) of Piramal Glass Pvt Ltd India Sanjay Jain has been appointed as Chief Operating Officer with effect from April 1st.