Sri Lanka Telecom restructuring

Rohan Fernando, the former Chairman of Sri Lanka Telecom PLC (SLT), denied reports of his resignation and alleged that he was removed through "Boardroom manipulation." SLT, a primary state-owned telecommunications provider in Sri Lanka, has been facing privatization, with the government divesting its 49% shares despite opposition from political parties and trade unions. 

 

 

Fernando claimed he was blindsided during a Board meeting where some members sought a vote to remove him as Chairman, even though it was not on the agenda. He received no communication from the President or Treasury Secretary, who appoints the SLT Board of Directors. 

 

 

Fernando, who believes he was ousted in a Boardroom coup, will seek legal advice on the removal process. He emphasized the need for careful consideration of national security implications before privatizing SLT. 

 

 

He suggested that shares should be given to hardworking employees. A new Chairperson has already been appointed following the Articles of Association.