Financial Times

SLT-Maxis directors at first board meeting

By Bandula Sirimanna
The restructuring of Sri Lanka Telecom (SLT) figured prominently at its first board meeting with four representatives from new shareholder, Maxis (through Global Telecommunications Holdings NV-GTH) on Monday.

Informed sources said Maxis representatives expressed concern on the government’s refusal to part with the CEO‘s post which the former wants. The government has offered the posts of Chief Operating Officer and Chief Finance Officer to Maxis without giving them more management powers under a new shareholders agreement, soon to be finalized. Under the previous agreement with NTT, the foreign partner was allowed to hold the CEO post.

The board meeting was conducted in a cordial manner focusing attention on the restructuring process, SLT sources said. SLT directors Shelley Geoffrey Williams and Jeffrey Jay Blatt, representing Maxis, meanwhile concluded their individual discussions with the newly appointed 58 heads of divisions and eight chief officers on the company structure.

A senior SLT official, who did not want to be named, said these discussions were to ascertain the responsibilities and suitability of these officers to fulfill their task. The SLT board of directors has also issued a directive to provide all necessary facilities including a Wi-Fi zone facility for a 7-member Maxis team due tomorrow to study the company structure.


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