In the run up to the Annual General Meeting (AGM) at Hayleys PLC in June, looming large is the question of whether three independent directors will resign following the scathing remarks that one large shareholder backed, non executive director made to the media recently.
Analysts say that out of the four independent directors at Hayleys, the three likely to step down are Lalith Godamune, Arjuna Senaratne and Trevine Jayasekara. Lawyer Harsha Cabraal was appointed an independent director in February.
The rest of the director-board of Hayleys comprises Mohan Pandithage (chairman), M.R Zaheed, Rajitha Kariyawasam, J.A.G.Anandaraja, Dhammika Perera, Nimal Perera, and S.C Ganegoda. Nimal Perera had said that Hayleys has been run by a Trust throughout and in the recent past it was run in an ‘unprogressive manner’, adding that he together with Dhammika Perera will not vote for the re-election of three independent directors who are currently in the Hayleys board at the AGM.
The fact that the powerful Perera duo (Dhammika and Nimal) is set to consolidate control at the third largest conglomerate in the country is out in the open but analysts point out that it won’t be that easy for them to acquire 51%, which they are eyeing, from a current 30 % control. |
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