Thambiayah retires from DFCC Board

Thursday, 29 January 2015 00:01 - - {{hitsCtrl.values.hits}}

Ravi Thambiayah has retired from the Board of Directors of DFCC Bank with effect from 28 January 2015 on reaching the age of 70 in keeping with the terms of the Banking Act. He was first appointed to the DFCC Board in July 2010. Thambiayah is Chairman of several companies in the Renuka Hotels Group and Chairman of the Cargo Boat Development Company Plc. He also serves on a few other Boards.

Directly and through related parties, Thambiayah holds over 15 million DFCC Bank shares, accounting for near 6% stake. Renuka City Hotels has the largest holding of 6.9 million or 2.6% stake. Ms. S.R. Thambiayah, who functioned as his alternate will also cease to be an alternate director.