ACL Cables announces new Board appointments

ACL Cables PLC, has announced key changes to its Board of Directors, reinforcing the commitment to strong governance and strategic growth. 

Respected professionals Emeritus Professor Kulatilleke Arthanayake Malik Kumar Ranasinghe as Independent Non-Executive Director and Senior Independent Director and Wickramasinghe Pathiranage Kusal Jayawardana as an Independent Non-Executive Director, have been appointed. The appointments reflect the company’s commitment to enhancing its leadership team with industry experts who have demonstrated excellence in their respective fields.

Prof. Ranasinghe is an Emeritus Professor at the University of Moratuwa (UoM) and the Vice President of the National Academy of Sciences, Sri Lanka. He is an independent Non-Executive Director of Pan Asia Bank PLC. He is a Chartered Engineer and holds fellowships from the Institution of Engineers, Sri Lanka, the National Academy of Sciences, and the Institute of Project Managers, Sri Lanka. He is a Graduate Member of the Institute of Directors.

He graduated with a B.Sc. (Eng.) (Hons.) in Civil Engineering from UoM, obtained a Master of Applied Science (MASc) and a PhD from the University of British Columbia, Canada as a Canadian Commonwealth Scholar. He was conferred with a D.Sc (Honoris Causa) from UoM, in 2024.

Prof. Ranasinghe has served as the Vice Chancellor of UoM, the Chairman of the Information and Communication Technology Agency (ICTA) and the Chairman of Sampath Bank PLC. He was an Independent Non-Executive Director at Access Engineering PLC, Teejay Lanka PLC, Resus Energy PLC, United Motors Lanka PLC, Hemas Power PLC and Lanka IOC PLC. He is a former Chairman of the Committee of Vice-Chancellors and Directors (CVCD) and Council Member of the Association of Commonwealth Universities.

Jayawardana brings over 25 years of experience in debt and equity capital markets, corporate advisory, mergers and acquisitions, investment management, and financial services. He currently serves as the Deputy Managing Director of Alliance Finance Co. PLC and holds independent director positions at Lanka Ventures PLC, LVL Energy Fund PLC, and Cable Solutions PLC.

His extensive career includes roles as Managing Director/CEO of NDB Capital Ltd., Bangladesh, and Chief Operating Officer of NDB Capital Holdings PLC. Jayawardana has also previously served as a director of Resus Energy PLC, Panasian Power PLC, and Lanka Communication Services Ltd.

Jayawardana is a Chartered Financial Analyst, Associate Member of The Chartered Institute of Management Accountants (UK), and Chartered Global Management Accountants (USA). He holds an MBA from the Open University of Sri Lanka in collaboration with Commonwealth of Learning, Canada.

ACL Cables PLC believes the wealth of experience and expertise that both Jayawardana and Professor Ranasinghe bring to the board will significantly strengthen the company’s governance framework and contribute to its strategic growth initiatives.

The company also expressed its appreciation for the invaluable contributions of the following outgoing directors, who have stepped down as of 31 December 2024, Senior Independent Director and Chairman of the Audit Committee Ajit Mahendra de Silva Jayaratne, and Independent Non-Executive Director Hemaka Devapriya Senarath Amarasuriya. 

Following these changes, the Board of Directors of ACL Cables PLC comprises Chairman Upali Gotabhaya Madanayake, Managing Director Hiran Arjuna Suren Madanayake, Nandani Chandralatha Madanayake, Executive Director Don Daya Wahalatantiri, Non-Executive Director Dr. Sivakumar Selliah, Non-Executive Director Prasanna Senani Rajiv Casie Chitty, Independent Non-Executive Director and Senior Independent Director Emeritus Professor Kulatilleke Arthanayake Malik Kumar Ranasinghe, and Independent Non-Executive Director Wickramasinghe Pathiranage Kusal Jayawardana.

These leadership changes align with ACL Cables PLC’s vision to strengthen its governance framework and drive continued growth and innovation in the industry.