First they appointed a highly respected figure Mr. Wijethileke as chairman in January.
But on June onwards all are leaving. Mr. Wijethilake resigned as chairman and from the board. Then Mr. Wijeratne left. Both only served less than six months. Then in august two appointments were made without any introductions. Then in September deputy chairman a long standing member of the management team, Mr. Koralage resigned. Two days back CEO , Mr. Channa Abeygunawardane resigned.
Now it’s run by husband and wife with about 20-27% stake.
WHAT’S GOING ON AT TWOD? IS IT IN TROUBLE? IF SO WHY AUTHORITIES ARE SILENT?
Why I said “An opportunity in the horizon”. These type of loosely held companies are always targets for takeovers. But if the company is not in good shape, definitely the taking over party will look for a discounted price.