Melstacorp announces new Managing Director

Monday, 2 January 2023 00:23 - - {{hitsCtrl.values.hits}}

Business leader Harry Jayawardena-controlled diversified blue chip PLC yesterday announced the appointment of M.N. Sampath Perera as the new Managing Director effective 2 January.

Sampath Perera, who left Sri Lanka 20 years ago, has returned and takes over as Managing Director of Melstacorp PLC.

Perera has lived and worked in London for nearly two decades. Starting his career in the UK with PwC London, he was involved in several strategic projects with global top tier banks including JP Morgan, ING, Bank of Montreal, National Australia Bank and BNP Paribas.

He was pivotal in setting up two London based international investment banks and a FinTech banking platform. He served these institutions in various leadership capacities including Finance Director, Chief Financial Officer, Head of Strategy and part time CRO.

Perera has extensive experience in financial and investment strategy and has led a number of restructuring, turnaround, mergers and acquisition efforts, and led strategic and economic research initiatives at corporate level. With over 25 years international experience, he has worked on projects spanning Europe, Asia, Americas, Middle East, and Southern Africa.

Perera holds an MBA from the prestigious University of Cambridge and is a Fellow of the Institute of Chartered Accountants, Sri Lanka. He is also a Certified Management Accountant and has other qualifications and exposure to investment and financial strategy, risk management and international tax planning.

Perera will also be appointed to the Board of Directors of subsidiary companies of Melstacorp PLC including DCSL PLC, Continental Insurance Ltd., Periceyl Ltd., Lanka Bell Ltd., Balangoda and Madulsima Plantations PLC and Browns Beach Hotels. He will also be appointed to the Board of Directors of Aitken Spence PLC as an alternate director to Niranjan Deva Aditya.

Melstacorp PLC is a diversified conglomerate, recognised as one of the most profitable organisations in the country, managing an investment portfolio consisting of subsidiaries and associates engaging in a variety of segments including Beverages, Financial, Information Technology, Manufacturing, Health, Telecommunication, Plantation, Power, Hospitality, Logistics amongst many others.

The Group also contributes Rs. 85 billion to the national tax revenue during the fiscal year (2022). During a turbulent period where many large corporates were compelled to compromise on their National Long-Term Rating, Melstacorp PLC has managed to retain their “AAA” (lka) Fitch Rating.

Following the latest appointment, the Board of Directors of Melstacorp PLC comprises Chairman Deshamanya Harry Jayawardena, Managing Director M.N.S. Perera Royle Jansz, L.U.D. Fernando, N. De S. Deva Aditya, Capt. K.J. Kahanda, Dr. A.N. Balasuriya, Hasitha Jayawardena, R. Seevaratnam and Stasshani Jayawardena.