Mahendra Jayasekera quits tile companies and Swisstek

Thursday, 3 April 2025 05:23 - - {{hitsCtrl.values.hits}}

Financial services specialist Priyantha Talwatte takes over as new MD at Lanka Tiles PLC

Mahendra Jayasekera

Priyantha Talwatte

Long-standing Managing Director Mahendra Jayasekera has resigned from Lanka Walltiles PLC and related companies Lanka Tiles PLC and Swisstek (Ceylon) PLC with effect from 1 April.

The announcement was disclosed to the market yesterday. Usually, filing to the Colombo Stock Exchange (CSE) does not require companies to cite reasons for any resignations.

As successor, financial services professional Priyantha Talwatte has been appointed as the Managing Director of Lanka Tiles PLC.

He is also an Independent Non-Executive Director at LB Finance PLC. All these companies’ controlling shareholder is business leader Dhammika Perera.

Jayasekera’s exit marks the end of a near 30-year leadership in the tile sector. Jayasekera is the Chairman of the Sri Lanka Cost and Management Accounting Standards Board. He has an honours degree in Business Administration from the University of Sri Jayewardenepura and is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka. He holds a Master of Arts degree in Buddhist Studies (Distinction Pass) from the University of Kelaniya.

Separately, a statement from Lanka Tiles PLC said Talwatte is an accomplished business leader with over 32 years of senior management experience, demonstrating a proven track record of driving sustainable business growth while delivering exceptional stakeholder outcomes.

His career spans multiple industries, including a decade in telecommunications, both in Sri Lanka and abroad, and 20 years in banking and finance. He played a pivotal role in transforming Nations Trust Bank (NTB) into a powerhouse in Sri Lanka’s banking sector. Serving as a core member of the bank’s Corporate Management team for two decades and culminating in his role as CEO and Director, he was instrumental in NTB’s strategic evolution. Under his leadership, the bank secured the American Express franchise and established it as the market leader in Sri Lanka, creating a strong competitive edge.

Talwatte was at the forefront of NTB’s brand development, shaping it to cater to a premium market segment. His leadership established the bank’s customer-centric ethos, sales and service culture, and data-driven decision-making capabilities. He pioneered the development of segmented customer value propositions, implemented advanced risk management frameworks, and optimised the branch distribution network through a centralised hub-and-spoke model. Additionally, he spearheaded NTB’s digital transformation, positioning it as a leader in digital banking with best-in-class platforms.

In the wake of Sri Lanka’s economic crisis, he briefly served as CEO of SDB bank.

Priyantha has held directorships at several leading organisations, including Waldock Mackenzie Ltd., Allied Properties Ltd., Nations Insurance Brokers, LankaClear Ltd., the Sri Lanka Bankers’ Association, and NSBM Green University. He was also a member of the National Payment Council and served as a Director at the Financial Ombudsman Sri Lanka (Guarantee) Ltd.

He is a graduate of the Chartered Institute of Marketing (UK) and an alumnus of Harvard Business School (AMP-l 96), Boston, USA.

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