Institute of Directors new Chairperson Aroshi Nanayakkara unveils plans

SLID Chairperson 

Aroshi Nanayakkara 

Global Consulting Company CEO, Sampath Bank Independent Non-Executive Director and Asian Hotels and Properties PLC Independent Non-Executive Director Aroshi Nanayakkara recently assumed office as the Chairperson of Sri Lanka Institute of Directors (SLID). President Ranil Wickremesinghe was the Chief Guest at the SLID Annual Members Meeting where Nanayakkara was inducted as the Chairperson. Outgoing EU Ambassador Denis Chaibi was the Guest of Honour. Following are excerpts from Aroshi Nanayakkara’s address at the Annual Members Meeting.

It is both an honour and a privilege to be the 12th Chairperson of the Sri Lanka Institute of Directors. From its humble beginnings as part of the Ceylon Chamber of Commerce, SLID has come a long way to become a vibrant organisation comparable to the best Institute of Directors (IODs) in the region.

Sri Lanka as a country, has had many inimical factors impinging its growth starting as far back as the colonial era where the fabric of Sri Lankan culture and society were re-woven to suit a foreign master to the more recent catastrophes in the form of a Tsunamis and a pandemic.

 For such a small country, we have had more than our fair share of adversity! Yet through it all, we have risen and shown our resilience by bouncing back as a country, as a people and as the corporate sector.  We do have a way to go in terms of getting our economic fundamentals right. The Domestic Debt Optimisation announcement last evening is an indication of the recalibration that is required in order to get Sri Lanka back on its feet to re-take its place as one of the fastest growing economies in the world. 

While acknowledging the journey ahead of us, it is also important that we acknowledge and appreciate the best in class practices that many of our private sector companies display.  From our apparel companies which are rated the highest in ethical best practices and serving some of the most discerning brands in the world, to the IT industry to some of the best Tea, Gin and Beer we produce, our corporates are taking Sri Lanka across the globe.  

While learning from other economies and entities, we too have a message to give to the world.  All our foreign visitors have a very positive message to carry back about Sri Lanka which sometimes, we as locals are missing where Sri Lanka bashing has become commonplace on social media as well as on other platforms. It is when we connect with the rest of the world that we truly understand the best that we have and do here in Sri Lanka.

The Sri Lanka Institute of Directors is part of the Global Network of Director Institutes and we have already started showcasing to the APAC region the policies, systems and processes that we have.  We have in fact been requested to support other IODs in the region.  We will also be starting a new initiative where we will be taking delegations of directors to the region to visit prominent companies in the region and we will be reciprocating by inviting delegations to Sri Lanka.

Our Board Leadership and the Women on Boards training programs are some of the best in the region and I must thank our strategic partner, IFC, for all the support they have given.  We are hoping to take these programs to the region as well as opening out the programs to foreign attendees. You are already aware of the IT Governance Masterclass that we recently launched.  We will also be commencing Master classes in Strategy, Risk and ESG during the year to provide expert knowledge on these topics to our membership.

With regard to the SME sector, we will be restarting our outreach programs where we hope to support and encourage their future growth by taking the message of corporate governance, financial stewardship and other relevant topics to the provinces.We are also looking at enhancing the value proposition to our members through many events and fora that were halted during the pandemic and by offering SLID member services including Board Placement services.

Many of our members are already supporting the initiatives of the Government to bring about a vibrant SOE sector.  As SLID, we would like to offer further engagement and request the Government to call upon us in structuring an efficient, effective and value driven SOE reform agenda.  The expertise is within us and we are most willing to help.

A special thank you to our event partner Baurs, and to our many corporate sponsors and partners without whose support we will not be able to do all that we do. We have an exciting year ahead of us with many initiatives planned by SLID.  I would like to call upon all members to engage with us on the many committees as well as take part in the training and evening fora that will come to you throughout the year to get the full benefit of your membership of the Sri Lanka Institute of Directors.

Pix by Upul Abayasekara