Gem & Jewellery Authority gets new Chairman and CEO

Prasad Galhena takes office as the new Chairman and CEO of the National Gem and Jewellery Authority of Sri Lanka with effect from today (5 January).

Having a proven track record of turning around several State institutions he brings in a wealth of experience in management with the view to make a positive impact on the development of the industry.

As Director Finance of Associated Newspapers of Ceylon Ltd., with a then incurring loss of Rs. 12 million per week was turned around to a profit of Rs. 8 million per week. Subsequently Galhena was appointed the Chairman of Laksala which at that time was on verge of closure was made a profitable venture.

With the introduction of several new divisions and branches during his tenure, new product lines were also introduced and all outstanding dues to craftsman were settled.  

As the Chairman of the Shipping Corporation during the period of 18 months several new divisions were added and profitable ventures were undertaken. The ferry service, feeder service for vessels for India and Bangladesh, a freight logistics division created, personal baggage handling and the transportation of coal for the Norochcholai power plant are among some ventures initiated by him.

Among other projects initiated and in the pipeline are the acquiring of an oil tanker and three bulk cargo vessels. At the point of taking over the Ceylon Shipping Corporation the turnover which was around Rs. 120 m has on now matured to a value of Rs. 7 b by the end of the financial year 31 March 2012 with the implementation these projects.

Prasad Galhena has a BBA (Hon) 1st Class and an MBA (Hon) from the University of Colombo, is a fellow the Chartered Institute of Management Accounting (CIMA – UK) and a past finalist of both the Chartered Institute of Accountants Sri Lanka and the Charted Institute of Marketing UK.