Hayleys will face all challenges - A.M. Pandithage

Hiran H. Senewiratne

Hayleys Plc, a leading conglomerate in the country will face all future challenges under the current economic condition, said its Deputy Chairman A.M. Pandithage.

“In view of the current economic scenario, it would be a challenging role with numerous responsibilities.

Therefore, my immediate emphasis would be to prepare the company to face the challenges, once I assume duties as the new Chairman and the Chief Executive Officer (CEO) of the company,” Pandithage told Daily News Business.

The Board last week announced the appointment of A.M. Pandithage as the new Chairman and Chief Executive Officer (CEO) from July 1 after the incumbent Chairman N.G. Wickremeratne relinquishes duties.

He said that he had served the company for 39 years.

Today, the company is one of the leading business entities, which has been in the forefront of Sri Lanka’s economic development especially in the export and transport sectors. Today, Hayleys accounts for 2.6 per cent of Sri Lanka’s export income.

He said that he is grateful to the Board of Directors for the confidence they have reposed in him by appointing him as the Chairman and CEO. The company is quoted in the Colombo Stock Exchange (CSE) and is broad-based.

In the 52 years since its incorporation Hayleys, has had a record 26 scrip issues and four modestly-priced rights issues, together with dividend payouts averaging 25 per cent in the past few years.

Today, the company is a Sri Lankan multinational conglomerate with businesses categorized in to Global Markets and Manufacturing, Agriculture and Agri Business, Transportation and Infrastructure and Consumer and Leisure areas in which the Group is renowned, both globally and locally.

The company was founded in 1878 by Charles P. Hayley and Company. Hayleys is today one of the largest Sri Lankan multinationals.

It has a portfolio of globally competitive core businesses spanning Global Markets and Manufacturing, Agriculture and Agri Business, Transportation and Infrastructure and Consumer Products and Leisure.