Theagarajah at helm of CIMA in 2014

Thursday, 9 January 2014 00:02 - - {{hitsCtrl.values.hits}}

By Kinita Shenoy CIMA Sri Lanka introduced its new Chairman and Board for 2014 on 7 January in a glittering ceremony. Newly-instated NDB CEO Rajendra Theagarajah accepted his position at the helm of CIMA in the country from the previous Chairman, KPMG Country Head & Managing Partner Reyaz Mihular. With over 29 years of experience in the banking industry, a position on CIMA’s Global Council and as the local chapter, Theagarajah has been hailed as the natural successor to the position. Aitken Spence Group CCO Vipula Gunatilleka was appointed as the Vice Chairman for the year 2014. CIMA’s Governance Board is selected each year in order to shape and deliver CIMA’s corporate strategy in order to augment and develop the services and members of the organisation. Hailed as one of the most prolific and respected qualifications in corporate Sri Lanka, CIMA has played a role in the growth of local businesses and the economy in general.

2013 highlights In his speech addressing CIMA’s progress under his leadership in 2013 and welcoming his successor, KPMG Country Head Reyaz Mihular expressed his happiness at having covered all the relevant touch-points in the past year’s events, as well as the participation of the corporate community, the membership and the student community. “Some of the highlights, in my view, were the successful business leaders summit, and visits from all the top CIMA UK officials – the President, CEO, and MD, and member-related activities. I believe that the success of any professional organisation largely depends on the involvement of its members. If you have a professional organisation devoid of this, it loses its soul.” Mihular added that he firmly believed that CIMA was “all about business and not just a double-entry qualification, helping businesses and people succeed”. Unreasonable expectations Referring to author and leadership expert Robin Sharma’s discussion during his visit to Sri Lanka set up by CIMA, the former Chairman mentioned revolutionary Irish playwright George Bernard Shaw’s quote, “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” Mihular had a unique take on this, by adapting it as parting advice for his successor – “be unreasonable with your expectations for what you will do and achieve this year, because science has shown that expectations that you set for yourself drive your performance. Secondly, be unreasonable with the goals you will pursue and the dreams you will realise, because that’s when you will make a change that people treasure. Furthermore, be unreasonable with the values you follow, especially in the current context when accounting professionals are being challenged. Doing the right thing never goes out of style. Finally, be unreasonable in the results you will deliver and the projects you complete. Set your aims high.” He then went on to welcome his successor on to the stage and the Chairmanship with a brief introduction as to their relationship and Theagarajah’s extensive industry experience.

Unparalleled opportunity Taking the stage, the new Chairman thanked his predecessor and the Board, and assured all stakeholders that he would do his best to further the business of CIMA Sri Lanka during his tenure. He extrapolated, adding that had three fulfilling years serving on the Board of CIMA Sri Lanka under extremely competent leaders that upheld the principles the CIMA Sri Lanka and set the tone for its future. Theagarajah noted: “Sri Lanka is a nation with tremendous promise. To our north lies one of the most powerful BRIC nations. India could be to Sri Lanka what China is to Hong Kong or ASEAN is to Singapore. To our south lies a sea route that strategically positions our country to benefit from the Afro-Asian trade corridor. We have suffered from the destruction of a 26-year-old civil conflict, which was put to rest in 2009. Today, we now have an unparalleled opportunity to drive economy growth and become a true breakout nation. Knowledge is a key ingredient to the success of post-conflict Sri Lanka, and management accounting as a profession has a pivotal role to play in nation-building whether in the private or public sector.” World’s largest market outside the UK The new Chairman also touched on the fact that Sri Lanka was the world’s largest market for CIMA outside the UK, and had the unique opportunity to build the capacity of its students and members alike and position the qualification as a tool that supports business. Theagarajah mentioned that at the same time, the Sri Lanka division has a similar opportunity to showcase this qualification as the premier global management accounting one. He then expressed his deep regard for the outgoing Chairman and members, and welcomed the three new board members for 2014, wishing all present a year filled with peace, good health and success. Pix by Upul Abayasekara