Sunshine Holdings (CSE: SUN) announced the appointment of Sivakrishnarajah Renganathan (S. Renganathan) to the Company’s Board as an Independent Non-Executive Director with effect from 27th May, 2022. With the new appointment, the Board of Sunshine Holdings will be comprised of 11 Directors, eight of which are non-executive, independent directors.
With a rich tenure of 41 years in the banking sector, Renganathan is a financial savant who has contributed to the success, growth and direction of financial markets in key leadership positions at several top-tier, local and foreign financial institutions such as Commercial Bank of Ceylon – Sri Lanka, Bangladesh operations acquired from Credit Agricole Indosuez – Bangladesh, and Commercial Bank of Maldives.
In 2003, he was appointed as the first Country Manager of the Credit Agricole Indosuez Bangladesh’s operations, which was the first-ever overseas operation of the Bank. On his return to the country, he went on to hold a number of leadership positions at the organization, contributing greatly to its success until ultimately, he was appointed to the pivotal role of Managing Director/ Chief Executive Officer of the Bank.
Currently, he serves as the Vice Chairman of the International Chamber of Commerce Sri Lanka, an Executive Member of the Ceylon Chamber of Commerce, an Executive Member of the Council for Business with Britain, a Member of the Sri Lanka Institute of Directors, and the Vice President of the Sri Lanka India Society and an Executive Member of the Council for Business with Britain.
Renganathan also served as a Director of the Lanka Financial Services Bureau Limited and the Sri Lanka Banks’ Association (Guarantee) Limited, and as a Council Member of the Employers Federation of Ceylon. Further, he was a Member of the General Council of the Institute of Bankers of Bangladesh, Founder President of the Sri Lanka-Bangladesh Chamber of Commerce and Industry, and Executive Member of the Foreign Investors Chamber of Commerce and Industry in Bangladesh. In recognition of his extensive record of social service, he was appointed by the Ministry of Justice as an all-island Justice of Peace.
Renganathan is a Fellow of the Chartered Institute of Management Accountants, UK (FCMA), Chartered Global Management Accountant (CGMA), Fellow of the London Institute of Banking & Finance, UK (FLIBF) and a Fellow of the Institute of Bankers Sri Lanka (FIB), with extensive Leadership, Management and Banking training locally and overseas.
Sunshine Holdings PLC is a diversified conglomerate contributing to ‘nation-building’ by creating value in vital sectors of the Sri Lankan economy – healthcare, consumer goods and agribusiness. Established in 1967, the group is now home to leading Sri Lankan brands such as Zesta Tea, Watawala Tea, Ran Kahata, Daintee Confectionary and Healthguard Pharmacy, with over 2,300 employees and revenue of Rs. 32 Billion in FY22. The business units comprise of Sunshine Healthcare Lanka, Sunshine Consumer Lanka and Watawala Plantations PLC, which are leaders in their respective sectors and many of them certified as a “Great Place to Work” in 2021 and 2022.