Umesh Gautam proposed as new Chairman at SMB Leasing

Existing non-executive director Umesh Gautam has been proposed as the new Chairman of SMB Leasing Plc.

The move, subject to Central Bank approval, follows T. Someswaran deciding to step down as the Chairman. Gautam is attached to Ashok Leyland India as its SAARC Region Head representing Ashok Leyland India in the joint venture Lanka Ashok Leyland PLC, as its CEO.

Gautam initially was on deputation in 1996 and developed a very strong market for Ashok Leyland in Sri Lanka which presently enjoys market leadership position since 1995.

By profession he is an Engineer and serves Ashok Leyland since 1978 and had held number of important assignments in the domestic market in India prior to taking up assignment in its Export Department in

1986. Dr. T. Senthilverl controls 21% stake in SMB Leasing whilst other major shareholder is H.R.S. Wijerathna with a 16.35% stake.

Someswaran is Chartered Accountant, has been in practice for more than 35 years and retired from the post of Senior Partner of SJMS Associates, a firm of Chartered Accountants which is associated with DELOITTE in Sri Lanka.