Suresh Shah

Reputed business leader Suresh Kumar Shah has been appointed as the Ceylon Tobacco Company PLC (CTC) Chairman with effect from 16 February. 

His predecessor, William Francis Pegel, served as Chairman from August 2019 and stepped down from the position and announced his resignation from the Board as a Non-Executive Director with effect from 16 February 2021.

The appointment of Shah as Chairman follows changes to CTC’s Board announced on 01 February, with the appointment of three new Non-Executive Directors: Suresh Kumar Shah, Stuart Kidd and Rumana Rahman; bringing the number of Directors on CTC’s board to eight. In light of these new appointments, CTC informed all relevant stakeholders that Shah, Kidd and Rahman do not hold any shares in the company.

Renowned for his visionary leadership and commitment to good governance, Shah has served as Chairman of the Ceylon Chamber of Commerce, Sri Lanka’s apex trade chamber, and is a Past Chairman of the Employers Federation of Ceylon. 

He has also served as a Commissioner on the Securities and Exchange Commission of Sri Lanka and was a member of the Monetary Policy Consultative Committee with the Central Bank of Sri Lanka and of the Council at the University of Moratuwa.

A Fellow Member of the Institute of Chartered Accountants of Sri Lanka, Shah brings with him a wealth of business acumen, serving as Director on the Board of reputed blue-chip Carson Cumberbatch and Co.  since 2002, and Director/CEO of Ceylon Beverage Holdings since 1991 and Lion Brewery Ceylon since its inception in 1996. 

British American Tobacco’s (BAT) current Regional Head of Finance – Asia Pacific and Middle East Stuart Kidd, joined BAT – Australia in 2001. He has held various senior finance roles in New Zealand, Vietnam, United Kingdom, Switzerland, Hong Kong and Japan. Prior to his appointment as Regional Head of Finance, he was Finance Director at BAT – Japan from 2015. Kidd counts over 19 years of experience across the Group. He is a Certified Chartered Accountant from the Australia and New Zealand Institute of Chartered Accountants. 

Rumana Rahman is BAT’s Regional Head of Talent, Culture and Inclusion – Asia Pacific and Middle East. She is the first South Asian female and first Bangladeshi to sit in the Regional Leadership Team and is also the first South Asian female leader of the top 120 Leaders of BAT. Prior to moving to Hong Kong, Rahman was the Head of Human Resources for BAT – Bangladesh. With over 18 years of experience, she has an extensive background in Human Resources and specialist functions. Rahman was recognised as the Most Inspiring Women Leader by Brand Forum in 2016.

With a history spanning 115 years, CTC is one of the most valuable companies listed on Sri Lanka’s stock exchange, delivering significant growth to domestic value chains. CTC is the only Sri Lankan company to be certified ‘Top Employer 2021’ by the prestigious Top Employer institute for maintaining excellent employment standards. The Company anticipates to further consolidate its position at the top and drive further growth for all stakeholders with these new appointments to the Board.

CTC net profit down 10% to Rs. 15.5 b in 2020