Dinesh Weerakkody

From TobaccoUnmasked

Dinesh Weerakkody is an Independent Director of the Ceylon Tobacco Company (CTC) since July 2014.[1][2][3] He is the son-in-law of John Amaratunga, Minister of Tourism Development and Christian Religious Affairs and Minister of Lands of the Cabinet of the President Maithripala Sirisena (2015 – to date).[4][5] He is identified as a “key strategist” in the United National Party (UNP), one of the two prominent political parties in Sri Lanka, constituting the majority of the joint government formed in 2015.[5][6] His book, “The Great November Revolution” reportedly documents his insights on the events occurred in November 2014, the initiation of the process to form the joint government in 2015.[7][8][9]

Image 1: The launch of the book The Great November Revolution authored by Weerakkody in November 2015. Prime Minister, Health Minister and the Deputy Minister of Finance of Sri Lanka overlooks while the book is being presented to the President[7]

Tobacco Industry Employment History

Weerakkody joined the Board of Directors of the CTC in July 2014.[3] He was a member of the following committees in the Board;[1]

  • Audit Committee
  • Related Party Transaction Review Committee
  • Corporate Social Investment Committee

Positions in Government Institutions held Simultaneously

Weerakkody held the following positions in government or affiliated institutions while he is holding the post in the CTC (the year appointed and the Minister is mentioned within brackets);

  • Advisor/Committee Chair, Ministry of National Policy and Economic Affairs (2015: Minister - Ranil Wickramasinghe)[1][3] [10][11]
  • Chairman, National Human Resource Development Council of Sri Lanka (2015: Minister - Ranil Wickramasinghe)[3][10]

During the period, local media reported that Weerakkody was considered for the position of the governor of the Central Bank, Sri Lanka in two occasions; at the beginning of the tenure of the Joint government era in January 2015 as an interim governor, and in June 2016 as the governor.[5][12][13]

Positions in Government Institutions held Prior to or after Tobacco Industry Employment

Weerakkody held the following positions in government or affiliated institutions prior to his employment in the CTC. (The timelines and the Ministers relevant are mentioned within brackets;

  • Chairman/CEO, Employees’ Trust Fund Board of Sri Lanka (2001-2004)[3][2][10]
  • Advisor to the Prime Minister* (2002-2004: Prime Minister - Ranil Wickramasinghe)[3][2][10][14]

Positions held in other Organisations and Associations

Weerakkody held high rank positions in several private corporations including companies belonging to pharmaceutical (GlaxoSmithKline Sri Lanka & Hemas Holdings PLC) and agricultural industries (CIC Holdings Ltd).[10] The complete list is mentioned below.

  • Independent Non-Executive Director, CIC Holdings Ltd (2015 - )[15]
  • Independent Director, Hemas Holdings PLC (2013 - )[16]
  • Chairman, HR Cornucopia Lanka (2011 - )[10]
  • Vice Chairman, International Chamber of Commerce, Sri Lanka (2016/2017)[17]
  • Independent Non-Executive Director, Access Engineering ( - )[18]
  • Chairman, Commercial Bank of Ceylon PLC (2011 – 2014)[10],[19]
  • Non-Executive Director, DFCC Bank (2003 – 2010)[10][2]
  • HR & Admin Director, GlaxoSmithKline Sri Lanka (1998 – 2005)[10]
  • Chairman, Zamlank Developers[1]
  • Director/Advisor of Cornucopia Bangalore, India[1]
  • Director, Gall Face Hotel Management Company[1]

He also served in the Directors’ Board of the RAM Ratings (Lanka) Ltd, also known as Lanka Rating Agency Ltd, which was suspended in 2015 by the Central Bank of Sri Lanka, declaring it is not an acceptable credit rating agency.[20][21][22][23]

TobaccoUnmasked Resources

Other relevant TobaccoUnmasked entries:

Relevant Link

Notes

  1. 1.0 1.1 1.2 1.3 1.4 1.5 Ceylon Tobacco Company, Annual Report 2016, 2017, accessed March 2017
  2. 2.0 2.1 2.2 2.3 Ceylon Tobacco Company, Annual Report 2015, 2016, accessed February 2017
  3. 3.0 3.1 3.2 3.3 3.4 3.5 Ceylon Tobacco Company. Annual Report 2014, 2015, accessed February 2017
  4. Sri Lanka Parliament Website, John Amarathunga, 2017, accessed February 2017
  5. 5.0 5.1 5.2 Daily Financial Times. Dinesh Weerakkody to be CB Governor?, 2015, accessed February 2017
  6. The Sunday Leader. New Cabinet Prominently Green, 2015, accessed February 2017
  7. 7.0 7.1 Mirror Business. The Great November Revolution, 2015, accessed February 2017
  8. Daily Financial Times. The Great November Revolution: The inside story according to Dinesh Weerakkody, 2015, accessed February 2017
  9. Mirror Business. Dinesh launches “The Great November Revolution”, 2015, accessed February 2017
  10. 10.0 10.1 10.2 10.3 10.4 10.5 10.6 10.7 10.8 Weerakkody D. LinkedIn Profile, 2017, accessed February 2017
  11. Ministry of National Policy and Economic Affairs. Ministry of National Policy and Economic Affairs Website, 2017, accessed February 2017
  12. Lanka News Web. Govt. in crisis: Dinesh Weerakkody as CB governor?, 2016, accessed February 2017
  13. Asian Mirror Dinesh Weerakkody to Become "Interim" Central Bank Governor?, 2015, accessed February 2017
  14. Sri Lanka Parliament Website, Prime Ministers of Sri Lanka, 2017, accessed February 2017
  15. CIC Holdings. Leading Professionals join CIC group, 2017, accessed February 2017
  16. Hemas Holdings PLC. Board of Directors, 2017, accessed February, 2017
  17. International Chamber of Commerce Sri Lanka. Executive Committee, 2017, accessed, February, 2017
  18. Access Engineering. Board of Directors, 2017, accessed February, 2017
  19. Commercial Bank of Ceylon PLC. Board of Directors, 2017, accessed February 2017
  20. Central Bank of Sri Lanka. Circular: Bank Supervision Department Ref: 02/17/500/0063/001, 03 August 2015, accessed February 2017
  21. Business Times. RAM Ratings (Lanka) Ltd now known as “Lanka Rating Agency (LRA) Ltd”, 04 May 2014, accessed February 2017
  22. Daily Financial Times. Lanka Rating Agency appoints Dinesh Weerakkody to Board, 04 August 2014, accessed February 2017
  23. The Island. Dinesh Weerakkody on LRA Board, 01 August 2014, accessed February 2017