Oct 09, Colombo: Sri Lanka's troubled agro-forestry investment firm, Touchwood Investments in a stock market disclosure today announced new changes in the company's management.
Sujeewa Lokuhewa, who was appointed as Director/CEO with effect from 26th September, has resigned from the Company effective 7th October while Executive Director Solomon Kankanamge Dhammika has also tended resignation from his position with effect from 10th October.
Lanka Wijendra Kiwlegedara has been appointed as the CEO in addition to his current position as the Chairman of the firm. His appointment is effective from today.
Meanwhile, Chamitha Ranneththi, the Chairmsn of RKC Construction and Consultancy has been appointed as a non-executive independent director effective from 9th October.
Ranneththi has expertise in financial consultancy in investment of real estate and management of real estate and plantation.
Touchwood has been in financial trouble for some time and a group of angry investors called Touchwood Forestry Owners group, who have not been able to recover their investments, has brought the company to the attention of the authorities.
The conduct of the investment firm is under a fully-pledged investigation by Sri Lanka's market regulator, the Securities and Exchange Commission (SEC) and it has been ordered to fully comply with its investigation.