SLT integrating all subsidiaries under new Group CEO
The Sri Lanka Telecom (SLT) operations have been rearranged under the new management by integrating all subsidiaries including Mobitel with the holding company.
The Board of Directors of the company has decided to bring those subsidiaries under the purview of the new Group CEO Dileepa Wijesundera, recently.
This decision was announced by the Chairman SLT P.G. Kumarasinghe Sirisena in a circular issued on June 30 (a copy of which is in the possession of the Business Times) stating that this decision was taken by the SLT board of directors considering the most beneficial structure for the SLT to bring significant business benefits to the company.
Under the new arrangement CEO’s of all subsidiaries should report to the SLT board and Group CEO. But earlier they had the autonomy in core areas and freedom for proactive and dynamic decision-making, SLT sources said.
When asked to comment on the latest operational rearrangement, Mobitel CEO Ranjith G. Rubasinghe said that he was not aware on such an initiative.
He declined to comment on the rearrangement which was made known to the staff through the June 30 circular.
Several attempts were made to restructure the SLT previously, but it has not been successful up-to-date.
The restructuring plan prepared by British Telecom consultants spending a massive consultation fee of Rs.1 billion in 2009 to recommend major management and structural changes which have not been fully implemented so far.
It has been proposed to overhaul SLT subsidiaries to better reflect the changing market and demands in the competitive environment and changing the business to focus on customers and future growth.
All CEO positions of SLT subsidiaries were to be re-designated as Chief Operating Officers under that earlier plan.
The integration of all SLT subsidiaries with the holding company is an attempt towards major management and structural changes at SLT, the sources revealed.