Financial Times

Susantha Ratnayake to lead top conglomerate John Keells Holdings
John Keells Holdings deputy chairman and managing director Susantha Ratnayake will succeed Vivendra Lintotawela as chairman of the blue chip conglomerate on January 1, 2006 following the latter’s retirement.
JKH’s other joint managing director, Ajit Gunewardene, will succeed Ratnayake as deputy chairman.

Lintotawela’s retirement and the planned succession were announced last December by JKH which said Lintotawela had decided to retire on December 31, 2005, “citing a need for a change in lifestyle that would enable him to pursue wider interests.”

JKH has restructured its management structure over the past year with an expanded Group Executive Committee (GEC) and Group Operating Committee, with top executives being given new responsibilities and designations, reflecting its growing size and reach. Ratnayake explained that the role of the chairman is two fold. “He is the Chairman of the Board and also the CEO who heads the "executive", in our case the GEC,” Ratnayake said.

“He would not have any direct responsibility for any of the businesses but will overlook Group strategy and new business development. The GEC is the "apex" executive arm of the Group and assists the CEO in running the Group. The Deputy Chairman will act for the CEO in his absence and will be responsible for certain business groups. “There are no appointments planned for managing directors as given in our new operating model,” Ratnayake said.

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