Business

Teejay Lanka appoints new Director

Teejay Lanka PLC appointed Masaru Okutomi, the Chairman and Chief Executive Officer (CEO) of Pacific Textile Holdings Ltd. of Hong Kong, as a Non-Executive Director of the company with immediate effect. 

He was re-designated from Vice Chairman to Chairman and CEO of Pacific Textiles, a leading manufacturer of customised knitted fabric with an annual production capacity of approximately 87 million kilogrammes (kg), on 1 October 2021, and leads the group’s management team, overseeing overall production and operations, providing corporate direction, and formulating business strategy. 

Welcoming Okutomi to the Board of the company, Teejay Lanka Chairman Bill Lam said his extensive experience in the management of a globally significant textiles business would be an asset to Teejay’s growth and expansion aspirations as it progresses towards its target of becoming a $ 300 million business. “We also thank Wan Wai Loi, for his exemplary service as a Board Member of Teejay Lanka PLC. He has done yeoman service shaping the journey of Teejay Lanka for the past 11 years and his guidance and wealth of knowledge were greatly appreciated by all his peers on the Board,” Lam said. 

Okutomi replaced Wan Wai Loi on the Board of Teejay Lanka PLC, consequent to a change in the latter’s role on the Board of Pacific Textiles, which has a 28% stake in Teejay Lanka, the company said.