Central Finance announces leadership transition with new Chairman and board appointments

Central Finance Company PLC (CFC), a leading non-bank financial institution, has announced significant changes to its Board of Directors, including the appointment of Arjun Rishya Fernando as its new Chairman, effective May 1, 2025.

The reshuffle follows the retirement of long-serving Chairman Asite Drupath Bandara Talwatte, who steps down on April 30, 2025, upon reaching the age of 70. 

In a letter to the Colombo Stock Exchange (CSE), the company confirmed compliance with corporate governance regulations under the Finance Business Act Direction No. 05 of 2021 and the CSE Listing Rules. The changes, approved by Sri Lanka’s Central Bank and the company’s Nominations and Governance Committee, aim to strengthen governance and strategic oversight. 

Apart from chairmanship, new appointments includes appointment of Manjula Hiranya de Silva as senior director. De Silva currently serves as  an Independent Non-Executive Director.

In addition two new indpependent directors join the board: Subhashini Harshi Munasinghe(effective May 1, 2025) and Dr. Nisha Kanthimathie Arunatilake De Silva (effective June 1, 2025).

The company emphasized that none of the appointees hold shares in CFC, aligning with governance standards. Resumes of the new directors have been publicly disclosed per CSE Listing Rules. 

The transitions were approved by the Central Bank’s Department of Supervision of Non-Bank Financial Institutions on April 25, 2025.