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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sureka resigns and Renuka likely replacement to the vacant CSE hot seat?

Sureka resigns and Renuka likely replacement to the vacant CSE hot seat?

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Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Surekha Sellahewa to resign from Colombo Stock Exchange

Jul 03, 2013 (LBT) - Surekha Sellahewa the Chief Executive of Sri Lanka’s only capital market - Colombo Stock Exchange (CSE), had tendered her resignation with effect from October 31, 2013, sources told. According to sources she had handed over her resignation quoting 'Personal Reasons' in a letter to the CSE dated 1st of July 2013.

Sources close to investment banking industry notes that present Assistant General Manager of Colombo Bourse Renuka Wijewardena who is also engulfed with a legal educational background have the potential of becoming next Chief Executive of CSE."In line with the transparent recruitment procedure they are likely to go for an advertisement before the final selection" industry analyst said.

Meanwhile Stock Market Industry analyst who wish not to be identified said that Industry professionals and borkers had been lobbying for her resignation since last six months and a recent stock market veteran who joined one of the seats in the CSE had been instrumental in lobbying for Surekha's activities that did not contribute to efficiency and growth of Sri Lanka's capital market's performance and activities.Back in 2011 there were also local print media reports that outlined CSE CEO Sellahewa's activities had distracted many employees and the performance of country's only market.

Sellahewa had started her career at the Mercantile Tours Pvt. Ltd. and had joined the Colombo Stock Exchange (CSE) as an Assistant manager of Surveillance and Administration in 1989. She had been promoted as the Manager Surveillance and Enforcement in 1991 and in the same year has been re-designated as the ‘Senior Manager - Surveillance & Enforcement’. Due to her hard work and commitment, she was made the ‘Senior Manager - Listings and Surveillance’ thus enhancing her responsibilities to two key divisions of the CSE. In 1st July 2006 she was handed over the reins of the CSE as she was appointed as the Chief Executive Officer (CEO).

Born on 27th July 1965 Surekha Sellahewa is known as a highly 'Religious Character' among stock market industrialists. She first studied at St. Bridget's Convent, Colombo 07 and then at Ladies College at Colombo 07. (Additional Reporting by J.A.)

http://www.lbt.lk/news/business/4862-surekha-sellahewa-to-resign-from-colombo-stock-exchange

stocks hunter


Manager - Equity Analytics
Manager - Equity Analytics
LBT always publish rotten news  articles. We need HOT news from a new site.

Don't delete this comment. again i'm telling this for the development of LBT only.

Resignation of this officer is nothing for the country. she has not done any constructive activity towards the development of the only capital mkt in SL. Instead of that she was responsible in destroying billions of rupees of poor investors during 2010 - 2011 period being a member of the commitee whom were introduce the controversial 10% price band to the mkt without giving prior notice to the investors.

I strongly believe that genuine investors who lost billions of rupees due that overnight decision taken by the commitee have every right to challenge that in courts for their act (Introducing a policy overnight without giving a fair chance and a time to the genuine investors).There's no transparency in that price band we don't no whats happening and what we knew in the next day morning  ' Hey this countor is under the price band' that's all.

Yes i agree with every body they came with that decision to curtailed the gamblers. But did they taken any body in to the custody from that price band? but what has happened ultimately this socalled band gives the support to the promoters to take shares like PCH to Rs 30 levels.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@stocks hunter wrote:LBT always publish rotten news  articles. We need HOT news from a new site.

Seems to be Stockhunter still has the personal grudge with GMNet, the above news is not an old news and plus Renuka's possible appointment is a hint from LBT.

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