Popular media personality and investor Raynnor Silva has resigned from the position of Director of the boards of Citrus Leisure PLC and its two subsidiaries Waskaduwa Beach Resort PLC and Kalpitiya Beach Resort PLC with effect from April 16, 2012.

As of December 31, 2011 Silva held 9.28 percent of Citrus Leisure PLC and had a large presence in the company’s warrants (W001811.77 percent and W0019-11.81 percent). According to the prospectuses of Kalpitiya and Wakaduwa resorts, Silva doesn’t have any material interest in the companies under his personal name.

According to Dilith Jayaweera, Silva’s resignation was carried out on good governance principles.

“Because of personal reasons, he (Silva) couldn’t attend five board meetings of the companies consecutively. According to good governance principles he had to step down,” Jawyaweera told Mirror Business.

He also said that following Silva’s resignation, two new directors will be appointed.

“We are planning to appoint an executive director who will function as Ceo-director for all the companies and another non-executive director,” Jayaweera said.

Jaywaweera and Varuni Amunugama Fernando controlled Emagewise (Pvt) Ltd. is the major shareholder of Citrus Leisure PLC which has the controlling stakes in Waskaduwa and Kalpitiya resorts.