SriLankan CEO steps down

27 January 2018 02:32 pm - 10     - {{hitsCtrl.values.hits}}


Controversial SriLankan Airlines CEO Suren Ratwatte was asked to step down following a Board meeting on Thursday with Manoj Gunawardene tipped to be the hot favourite to take over, the Daily FT reported quoting top Government officials.

The move comes amidst plans to restructure the troubled national carrier, with its Chairman and Board of Directors expected to step down once the Government finalises the reform agenda.

“The CEO has stepped down and Manoj Gunawardene is very likely to be his replacement,” a senior Government official who spoke to Daily FT on the condition of anonymity said.

When asked about the changes, a member of the Board said “decisions on restructuring and changes in personnel need approval of the ministerial committee under the Prime Minister which includes the line Minister.”

The appointment will be finalised during next week’s board meeting upon Company Chairman Ajit Dias’ return to the country, Daily FT learnt.

SriLankan Airline employee unions had repeatedly called for Ratwatte’s removal from the post amidst claims that he was unable to keep the cash trapped airline from taking a nosedive. The Unions were receptive of the possibility of Guwardene’s appointment.

Gunawardene held the same portfolio for a period of three years from 2008.

Earlier in the week, SriLankan Airlines said it had achieved the highest-ever monthly revenue in the company’s history in December 2017.

The air-transport operation of the company recorded a stand-alone revenue of $ 100.1 million, the first instance in the 38-year history of the airline where monthly operating revenue reached this landmark figure.

The airline attributed the increase in revenue to its expanded network and continuous improvement in revenue management processes. The company recorded a net positive result for the month even after interest costs, with an un-audited net profit of $ 3 million.

  Comments - 10

  • Sanka Saturday, 27 January 2018 03:12 PM

    Why cant we appoint an Industry experts as a Chairman and a CEO from International market? Look what happened in Malaysian air line. After two disasters, they are still surviving and managing by appointing a overall expert from Ireland Mr Peter Brendan Bellew a former Ryan air CEO. Every time we are appointing some one with the political influence and the end is a disaster. This is happening not only Sri Lankan, its happening to other government institutes as well. Why cant we consider some one like Mr. Peter Hill who is currently based in Sri Lanka now.

    lion Saturday, 27 January 2018 03:19 PM

    bad friends of 2nd top who betrayed and tarnish his name severally.

    Lord Wolfstein Saturday, 27 January 2018 03:25 PM

    Take an experienced foreigner for this job. No Sri Lankan can refuse the demands of politicians.

    D.E.M.O Krazy Saturday, 27 January 2018 03:31 PM

    Manoj Gunawardene? isnt he Sachin Vaas Gunawardanas brother??? What a jokePolitical incest, they love to keep it within the family!

    Nimal Saturday, 27 January 2018 04:01 PM

    Bring back Peter Hill. The former Sri Lankan CEO appointed by Emirates!

    RonnieBugger Saturday, 27 January 2018 04:26 PM

    Srilankan, Sri Lanka Cricket Board, birds of a feather - high profile crooks.

    S kumara Saturday, 27 January 2018 06:21 PM

    There's goings to be PC to investigate 2008 / 15 era and manoj gunawardana to be the CEO.What a funny country

    Diogenes Saturday, 27 January 2018 06:22 PM

    Looks like a real plunderer!Good riddance!

    DJ Saturday, 27 January 2018 06:31 PM

    Finally the most constructive decision the outgoing board of directors or board wihout direction has taken

    Rohantha Saturday, 27 January 2018 06:55 PM

    A qualified person. Classmate of suren

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