Rajah Nanayakkara appointed as LOLC Chairman

25 August 2015 03:23 am

Rajah Nanayakkara has been appointed as the Chairman of Lanka Orix Leasing Company PLC (LOLC) with effect from today, the company said in a stock exchange filing.

The filing said his appointment was approved by the LOLC director board.

Nanayakkara’s appointment comes in the wake of the retirement of highly respected corporate personality Rohini Nanayakkara, who assumed duties as the LOLC Chairperson in 2004. 

Rajah Nanayakkara is the founder and Executive Chairman of Ishara Traders (Pvt.) Ltd, a business which pioneered the import and sale of new and reconditioned motor vehicles. 

He was also the founder Chairman of the Motor Vehicle Importers’ Association of Sri Lanka, where he continues to play a significant role. 

Nanayakkara is also the Chairman of Ishara Plantations (Pvt.) Ltd, an award-winning estate of tea and spices, and Chairman of Ishara Property Development, a company which has been involved in construction for the past 18 years.  He is also on the board of Brown & Company PLC and Browns Investments PLC. As at June 30, 2015, Rajah Nanayakkara held a 36.3 percent stake in LOLC as the firm’s single largest shareholder.