Jayampathi Bandaranayake

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Background

Jayampathi Divale Bandaranayake was a Director of Ceylon Tobacco Company PLC (CTC) from 1990 and the Chairman from 2008 to 2013. [1][2] Born in Matale, Sri Lanka, Bandaranayake was a student of St. Thomas’ College Colombo.[3] He was a graduate of Law from the Open University of Colombo.[4]

Image 1: Bandaranayake exchanging an agreement with a Japanese steel product manufacturer as the Chairman and Director General of the Board of Investment of Sri Lanka[5]

The employment history with the tobacco industry

Bandaranayake joint CTC just after school in 1967 as a management trainee. He thus working for CTC for 45 years including his tenure as the Chairman (2008-2013). He also served as the Personnel Manager, Head of Human Resources and the Human Resources Director. He was serving as the Deputy Managing Director when he retired from the company in 2007 (from 1990) and rejoined as a Non-Executive Director. He was a member of the CTC’s Board of Directors for 22 years (1990 – 2013).[1][2][6][4]

Financial Investments in the Tobacco Industry

Bandaranayake was amongst the ‘Top 20’ shareholders of the CTC from 2007 to 2013 owning a number of shares ranging from 122,944 (0.07%) to 183,344 (0.1%).[1][2][7][8][9][10]

Positions in government institutions held simultaneously

Bandaranayake was appointed as the Chairman and Director General of the Board of Investment of Sri Lanka in 2010. He was serving as the Chairman of CTC during that period.[11][1] He was also a "Presidential Appointee" in the Board of Management of the Strategic Enterprise Management Agency.[12]

Positions held in other (non-government) institutions

Corporate Sector

Bandaranayake served in the boards of the private corporations mentioned below:[1][13][7][14]

Professional or other Associations

Bandaranayake held governing positions in the following associations:[7]

  • Chairman – Ceylon Chamber of Commerce
During his tenure, Bandaranayake was criticized for not acknowledging conflicts of interests in an issue related to John Keells Holdings (JKH). Ceylon Chamber of Commerce voted in favour of JKH in a majority of one vote in an allegation on violation of code-of-ethics by JKH. As Bandaranayake was a Director in a JKH associate (Union Assurance PLC), and working with Susantha Ratnayake the Chairman of JKH in the board of Ceylon Tobacco Company PLC (CTC), some members reportedly requested him not to take part in the proceedings, highlighting he has conflicts of interest. Reportedly he refused to heed the request saying he has obtained legal advice on the matter.[15]

Bandaranayake was a member/fellow in the following associations:[7][16]

He is also an ‘Ambassador’ of Mother Sri Lanka organisation.[17]

Tobacco Unmasked Resources

Other relevant tobaccounmasked entries:

Notes

  1. 1.0 1.1 1.2 1.3 1.4 Ceylon Tobacco Company PLC. Annual Report 2008, 2009, accessed May 2017
  2. 2.0 2.1 2.2 Ceylon Tobacco Company PLC. Annual Report 2013, 2014, accessed May 2017
  3. The S. Thomas’ College Old Boys’ Forum. J.D. Bandaranayake, 20 May 2015, accessed May 2017
  4. 4.0 4.1 R Ladduwahetty. Poverty alleviation through sustainable agriculture - New CTC Chairman, Daily News Online, 24 March 2008, accessed May 2017
  5. DailyNews.lk Lankan steel power up Japan market, 18 February 2011, accessed May 2017
  6. DailyFT. Jayampathi to bid goodbye to CTC after 45-year stint, 7 March 2013, accessed May 2017
  7. 7.0 7.1 7.2 7.3 Ceylon Tobacco Company PLC. Annual Report 2011, 2012, accessed May 2017
  8. Ceylon Tobacco Company. Annual Report 2010, 2011, accessed May 2017
  9. Ceylon Tobacco Company PLC. Annual Report 2009, 2010, accessed May 2017
  10. Ceylon Tobacco Company PLC. Annual Report 2012, 2013, accessed May 2017
  11. Rural Returns (Gte) Ltd. Rural Returns Director J.D. Bandaranayake new BOI Chief, 9 June 2010, accessed May 2017
  12. Ceylon Tobacco Company PLC. Annual Report 2004. Colombo:CTC, 2005
  13. Rural Returns (Gte) Ltd. Board, Undated, accessed May 2017
  14. 4-traders. Jayampathi Divale Bandaranayake, Business Leaders, 2017, accessed May 2017
  15. Sri Lanka Gaurdian. Regulation and governance, 1 March 2009, accessed May 2017
  16. The Sri Lanka Institute of Directors. Current list of SLID members, 2017, accessed May 2017
  17. Mother Sri Lanka. Mother Sri Lanka Ambassadors, 2017, accessed May 2017