Ambeon Group announces new Board of Directors

Ambeon Capital PLC Directors Sanjeev Gardiner, Ajith Devasurendra and Ranil Pathirana have been appointed to the Board of Ambeon Holdings PLC. Murali Prakash will continue as Group Managing Director/Chief Executive Officer of both Ambeon Capital PLC and Ambeon Holdings PLC.

Ambeon Capital and Ambeon Holdings Chairman Sanjeev Gardiner

Ambeon Capital PLC Ambeon Holdings Deputy Chairman Ajith Devasurendra

Ambeon Capital and Ambeon Holdings Group Managing Director/Chief Executive Officer Murali Prakash

Ambeon Capital and Ambeon Holdings Director Ranil Pathirana

Synergies across the respective boards is expected to result in better coordination in governance ensuring greater stakeholder value. In a strategic move to build in synergies, agility and create a robust governance structure between the Holding Company Ambeon Capital PLC and its Investment Holding and Management company; Ambeon Holdings PLC – the medium sized conglomerate reputed for its market dominance in the areas of financial services, manufacturing, real estate, technology and strategic investments today announced the restructuring of the Board of Ambeon Holdings PLC.

As such, Sanjeev Gardiner has been appointed as Chairman, Non-Independent/Non-Executive Director, Ajith Devasurendra as Deputy Chairman, Non-Independent/Non-Executive Director, and Ranil Pathirana as Non-Independent/Non-Executive Director, with effect from 2 June. 

Gardiner, Devasurendra and Pathirana will continue their roles on the Board of Ambeon Capital PLC, in addition to their new roles on the Board of Ambeon Holdings PLC. Renowned industry veteran and top corporate personality Murali Prakash will continue to manage the Group as its Group Managing Director/Chief Executive Officer of both Ambeon Capital PLC and Ambeon Holdings PLC. 

The Ambeon Group is a dynamic and diversified Group of Companies which continues to seek lucrative business opportunities and transforms entities to be the best within their respective industries. This change at Board level was consequent to the restructure within the group over the past couple of years wherein Ambeon Capital PLC became a Holding entity, whilst Ambeon Holdings PLC became an Investment Holding and Management company. 

This move further ensures better coordination in governance between the two entities, which will no doubt ensure greater focus and enable the board members to participate on investment decisions better resulting in greater stakeholder value creation. 

“The sustainability of organisations largely depend on how agile entities are in reacting and responding to changes in market dynamics. It is therefore with great pleasure that I accept the position of Chairmanship on the Board of Ambeon Holdings PLC, at a time when we are navigating to build a sustainable and future centric entity in the new normal,” stated Sanjeev Gardiner. “Representing the Boards of Ambeon Capital PLC and Ambeon Holdings PLC respectively gives us the flexibility to be involved more closely into the investments, decision making and support to build better stakeholder wealth. It further creates greater synergy across entities to stretch a better GRC Framework. Organisations’ future is chartered based on their core values and amidst current pandemic and the changes towards new normal company, this would enable us to be more focused on building a future-proof entity,” Gardiner concluded. 

The Group further informed that former veteran banker A.G. Weerasinghe who was appointed as Chairman of Ambeon Holdings PLC with effect from 2013 will relinquish his role as Chairman but will continue as Director of the said company and its subsidiaries, as well as remain in several of the board subcommittees. 

As the former Chairman of Ambeon Group, Weerasinghe is said to have provided his able leadership and guidance during the restructure and repositioning of the Group. During his tenure as Chairman, Ambeon Group achieved several milestones including the transformation, reposition and restructure of the Group, which is now ready take on the dynamic, technocentric business world of tomorrow. 

The Group further acquired one of Sri Lanka’s leading Systems Integrator and Information Systems providers; Millennium IT ESP during this period. “On behalf of the Board and management of the Ambeon Holdings PLC, I wish to thank Mr A.G. Weerasinghe for his leadership and guidance extended during these seven years. Mr Weerasinghe propelled the Group during difficult times into a dynamic entity the Group stands today,” stated Ambeon Capital PLC and Ambeon Holdings PLC Group Managing Director/Chief Executive Officer Murali Prakash. 

“The Ambeon group is built on a set of values that are considered cornerstones of building a sustainable and future proof organisation. The agility and learning mindset come from these values of empowering people, channelling teamwork, actioning results and seeing beyond. These are built on a robust platform firmly anchored onto governance, risk and compliance. Customer centricity is the ultimate objective of our value congruence. With this transformational restructure and synergies across the two Boards, we are now in a position to further solidify our resources and build sustainable business models to derive the best for all our stakeholders in the years ahead,” concluded Prakash. 

The Ambeon Capital PLC Board of Directors comprise of eminent personalities – Sanjeev Gardiner (Chairman), Ajith Devasurendra (Deputy Chairman), Murali Prakash (Group Managing Director/ Chief Executive Officer), Priyantha Fernando, Harsha Amarasekera P.C, Ranil Pathirana, Sarinda Unamboowe and Desamanya Deva Rodrigo, while the Board of Directors of Ambeon Holdings PLC include – Sanjeev Gardiner (Chairman), Ajith Devasurendra (Deputy Chairman), Murali Prakash (Group Managing Director/ Chief Executive Officer), A.G. Weerasinghe, Ruwan Sugathadasa, Mangala Boyagoda and Ranil Pathirana.