Rose Cooray retires; Stuart Chapman to be new HNB Assurance Chairman

Rose Cooray

Stuart Chapman

Longstanding HNB Assurance PLC Chairperson Rose Cooray is retiring on 23 May and the company has announced the appointment of Stuart Chapman as the successor effective 24 May.

Cooray, a former Deputy Governor at the Central Bank, joined the HNB Assurance Board Cooray in July 2015 and retired after completing her term as per the direction of the Insurance Regulatory Commission of Sri Lanka.

Chapman is currently a Non-Independent/Non-Executive Director at HNB Assurance having been appointed in March 2019.

Chapman holds an MBA from the University of Colombo and a Diploma in Marketing from the Chartered Institute of Marketing, UK. Additionally, he possesses a Diploma in Life Insurance Sales and Marketing from the Life Underwriters Training Council, USA, and a Diploma in Business Management from the National Institute of Business Management, Sri Lanka. His distinguished affiliations include being a Fellow Member of the Chartered Institute of Marketing, UK, and the Institute of Management, UK, as well as a Member of the Institute of Certified Management Accountants, Australia. With over 40 years of managerial expertise in sales, marketing, and general management functions, Chapman has made significant contributions across diverse industries such as Healthcare, FMCG, Consumer Durables, Insurance, Banking, and Telecommunications. He also serves as an Independent Non-Executive Director of Hemas Pharmaceuticals Ltd., and United Motors Lanka PLC.

Chapman’s illustrious career includes a tenure as the former Managing Director of GlaxoSmithKline (GSK) Pharmaceuticals, where he also sat on the Boards of Glaxo Wellcome Ceylon Ltd., and SmithKline Beecham Ltd.

Prior roles encompassed leadership positions such as Managing Director of the Hemas Healthcare Sector, Marketing Director at Reckitt Benckiser, and Senior Brand Manager at Unilever. 

He has also held the positions of Managing Director/CEO at Lanka Orix Leasing Company and Director Life at Ceylinco Insurance. Notably, Chapman served as a former Director/CEO of Janashakthi Insurance PLC.

His contributions extend beyond corporate roles, as evidenced by his involvement in industry associations. Chapman has served as the Honorary President and a Founder Member of the Chartered Institute of Marketing Sri Lanka. He has held the position of President of the Sri Lanka Chamber of the Pharmaceutical Industry, the apex body for the pharmaceutical sector in Sri Lanka. Furthermore, he has served as Co-Chairman of the Pharmaceutical & Cosmetics Steering Committee of the Ceylon Chamber of Commerce.