SLT dialing for a ‘Sri Lankan’ CEO

Thursday, 10 January 2013 00:13 - - {{hitsCtrl.values.hits}}

By Ashwin Hemmathagama – Our Lobby Correspondent

Putting a stop to the routine of having a foreigner as the Chief Executive Officer at Sri Lanka Telecom PLC (SLT) since 1998, Government is in search of a suitable local to hold this top position from February, Minister of Telecommunication and Information Technology Ranjith Siyambalapitiya told Parliament yesterday.

He said with the current CEO Greg Young, an Australian national who was employed since February 2009 for an annual emolument package exceeding US$400,000, in addition to the monthly allowance of US$4,000 ending his tenure in January 2013 with no possibilities of “receiving an extension” has created a vacuum for the first time in the company history.

“There are 1,006 executives in the SLT. They are based on monthly salaries ranging Rs.50,000/- to 357,000/- in addition to vehicle/ transport and fuel allowances,” he added in response to a Question for Oral Answers raised by UNP Parlimentarial Dayasiri Jayasekara.

SLT, which was privatized in 1997 with the collaboration of Nippon Telegraph and Telephone Corporation (NTT)and listed in the Colombo Stock Exchangeis used to have foreigners as CEOs as a part of the investment agreement. But With the recent sale of NTT stake in SLT to Global Telecommunications Holdings N.V of Netherlands, which currently owns 44.98 per cent stake in SLT whilst 49.5 per cent is owned by the Government of Sri Lanka and the balance shares remain with the general public, “an opportunity has opened for a Sri Lankan,” to lead the national telecommunication giant according to Minister Siyambalapitiya.