New appointments at CIC Holdings

Wednesday, 15 May 2013 00:58 - - {{hitsCtrl.values.hits}}

CIC Holdings PLC yesterday announced changes in its Board of Directors as well as in the management of one of its main subsidiaries, Chemanex PLC.

Steven Enderby has been appointed as an Independent Non-Executive Director to the Board of Directors of the parent company, while Anura Mapalagama has assumed duties as the Managing Director of Chemanex PLC.

Commenting on the new appointments, Chairman of CIC Holdings B.R.L. Fernando said: “The experience and expertise that is brought to the table by Enderby would be an asset to the CIC Group and we are excited to have him onboard. Enderby’s extensive experience in local and international markets will undoubtedly add value in our deliberations and enhance the reservoir of knowledge that the Board encompasses. I am also delighted to observe the continued success of Mapalagama, who has been with the company for over 35 years. He is a seasoned marketer, and will encapsulate and develop our exports in markets both old and new. I extend my congratulations to them and wish them both the very best in their new capacities.” Enderby boasts a long and successful history in the private equity industry with Actis, a leading global emerging markets fund. During his career, Enderby has worked for Actis in the UK, Ireland, Uganda, Swaziland, Sri Lanka and India, from which he retired in 2011 as an Actis partner. Some of the most successful private equity transactions he has led include South Asia Gateway Terminal, Ceylon Oxygen and Millennium Information Technologies in Sri Lanka. Enderby’s corporate experience is also enhanced by serving on the Boards of leading companies in Sri Lanka and India such as John Keells Holdings, Lion Brewery and Punjab Tractors. A Member of the Chartered Institute of Management Accountants with a Bachelor of Science (Econ) in Economics and Accounting from Queens University Belfast, Enderby is currently studying for a Masters of Development Studies at the University of Melbourne.

Mapalagama has been with Chemanex PLC since 1977. He was appointed to the company’s Board of Directors in 2007 and as the Joint Managing Director in May 2012. He also functions as a Director in other subsidiaries of Chemanex.

Mapalagama specialises in industrial chemicals and its technical applications, and boasts of more than 30 years of experience in local and international marketing. He has also received training in Japanese management practices at AOTS in Japan as well as technical training in other reputed foreign organisations.