The Chairman of the Colombo Stock Exchange (CSE) Dumith Fernando who has served in this role since 1 July, 2020, has informed the Board of his intention to retire by rotation on 23 June, 2022 at the conclusion of his current term as Director.
Subsequently, at its regular monthly board meeting held on 19 May, 2022, the Board of the CSE has elected Director Dilshan Wirasekara to succeed Fernando as Chairman with effect from 24 June, 2022. Wirasekara is currently Director and CEO of First Capital Holdings PLC.
According to the Articles of Association of the CSE, it’s Chair is chosen from among the five Directors elected by the members of the CSE. Wirasekara’s appointment is in line with the CSE’s normal Board succession practice.
Outgoing Chairman, Fernando said, “We are pleased with the advancement of the CSE in the last two years. The market has set records across capital raising, trading volumes and participation alongside significant wealth creation for investors. The CSE is also financially stronger than it has ever been, and I am pleased to hand over my role following the institution’s highest-ever profitability and capital reserves position. Credit for this is due to my fellow board members, management and staff as well as all those stakeholders who collaborated with us including our regulator the Securities and Exchange Commission of Sri Lanka and the stock broking and investor communities.”