Pacific Textiles Chairman Masaru Okutomi appointed Director of Teejay Lanka

Thursday, 28 October 2021 00:00 - - {{hitsCtrl.values.hits}}

Masaru Okutomi

Teejay Lanka PLC announced the appointment of Masaru Okutomi, the Chairman and CEO of Pacific Textile Holdings Ltd. of Hong Kong, as a Non-Executive Director of the Company with immediate effect.

Okutomi replaces Wan Wai Loi on the Board of Teejay Lanka PLC, consequent to a change in the latter’s role on the Board of Pacific Textiles, which has a 28% stake in Teejay Lanka, the company said.

Okutomi has a Bachelor’s degree in Law from Hitotsubashi University, one of Japan’s top universities, and held senior management positions including Managing Director of Toray Industries (South China) Co. Ltd. and of Toray Industries (Hong Kong) Ltd., Deputy Managing Director of Toray Industries (China) Co. Ltd. in the past.

He was re-designated from Vice-Chairman to Chairman and CEO of Pacific Textiles, a leading manufacturer of customised knitted fabric with an annual production capacity of approximately 87 million kg, on 1 October, and leads the Group’s management team, overseeing overall production and operations, providing corporate direction and formulating business strategy.

Welcoming Okutomi to the Board of the Company, Teejay Lanka Chairman Bill Lam said his extensive experience in the management of a globally-significant textiles business would be an asset to Teejay’s own growth and expansion aspirations as it progresses towards its target of becoming a $ 300 million business.

“We also thank Wan Wai Loi, for his exemplary service as a Board member of Teejay Lanka PLC,” Lam said. “He has done yeoman service shaping the journey of Teejay Lanka for the past 11 years and his guidance and wealth of knowledge was greatly appreciated by all his peers on the Board.”

Sri Lanka’s largest textile manufacturer and the first textile manufacturer in the country to receive membership of the US Cotton Trust Protocol, Teejay Lanka PLC is a public quoted company with 39% public ownership. The company is backed by Sri Lanka’s largest apparel exporter Brandix Lanka which has a 33% stake. Pacific Textiles of Hong Kong whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 28% of Teejay Lanka.

The company has been adjudged the Best Textile Exporter in Sri Lanka at the Presidential Export Awards presented by the Export Development Board (EDB) and has been named among the 100 Most Respected Companies in Sri Lanka by LMD.

An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay has been listed on the Colombo Stock Exchange (CSE) since 2011 and was included in the S&P Top 20 Index in Sri Lanka. The company has also been named among the Forbes ‘200 Best under a Billion in Asia’ and been recognised as the ‘International Textile Firm of the Year’ and the ‘International Dyer and Finisher’ by World Textile Institute, London.