SLIC’s MD post scrapped; Hemaka appointed Ex: Chairman Bangsa to Lotteries Board
The Managing Director’s (MD) position at the state-owned Sri Lanka Insurance Corporation Ltd (SLIC) has been scrapped following the tug of war by two directors with Hemaka Amarasuriya’s designation changed from non Executive to Executive Chairman as per instructions by the ‘highest authorities’. One warring official will be transferred to the Development Lotteries Board, officials said.
“Now there are no MDs. There are only directors. They will be directed by the chairman,” an official said. This came following former MD T.M.R. Bangsa Jayah (who was appointed by then subject Minister Ravi Karunanayake,) and new MD Keith Bernard (appointed by Minister Kabir Hashim last month) faceoff with both claiming they are the MD at SLIC.
The situation worsened when Mr. Jayah barged into a board meeting and got into a verbal confrontation with other directors with Mr. Bernard asking him to quit. The crisis erupted after the institution moved to the purview of Public Enterprise Development Minister Kabir Hashim from the Finance Ministry. Mr. Jayah, brother-in-law of Finance Minister Ravi Karunanayake will be transferred to the Development Lotteries Board, which is under Mr. Karunanayake, officials said.
When Mr. Bernard was to take over at SLIC, Mr. Jayah was still at SLIC MD office refusing to leave. “Mr. Jayah didn’t want to go,” the official said. “Both MDs instructed certain staff to carry out their instructions. The staff was perplexed as to which instructions to follow. They were at a dilemma,” the official said. Meanwhile the Insurance Employees Union (IEU) has written to Minister Hashim, but hasn’t got a response as yet.