Colombo Dockyard’s MD/CEO to Step Down in April

Mangala P.B. Yapa, the incumbent Managing Director/ CEO of Colombo Dockyard PLC (CDL), is to retire from his service at the forthcoming annual general meeting in April 2014, the company announced yesterday.

Colombo Dockyard's MD CEO to Step Down in April

Retirement of Mr. Yapa will bring to end an outstanding career of nearly 30 years in numerous roles at CDL. Ranil Wijegunawardena, present General Manager (Finance) will be assuming duties as the new Managing Director/CEO at this juncture.

“Mr. Yapa’s dedicated leadership and tireless enthusiasm has been an integral part of making CDL the brand it is today. Since he took on the role of CEO/MD a decade ago, CDL has become one of South Asia’s most recognized ship repair and building entities, competing with global companies and has been recognized as Sri Lanka’s leading engineering entity, contributing well over 1.2% of country’s export turnover, winning many awards and accolades for number of years,” said Akihiko NAKAUCHI, Chairman, Colombo Dockyard PLC. “He leaves behind a legacy of professionalism and commitment and his absence will be felt by all of us at Dockyard.”

Yapa joined the company in 1984 as a trainee engineer upon his graduation with a Masters degree in naval architecture (ship building) from Astrakhan Technical University, Russia. Later he completed his Masters degree in Business Management form the Postgraduate Institute of Management (PIM). He has held several senior managerial positions within CDL and was appointed to the Board of Directors as the Managing Director/ CEO in April 2004.

During his tenure as MD/CEO, the Colombo Dockyard was recognized as one of South Asia’s premier ship repair and ship building entities, with an unprecedented performance financially and otherwise. The company has ventured into international markets, and established itself within a niche market with long-term plans for sustainable development.

The succeeding MD/CEO, Ranil Wijegunawardane is a Fellow Chartered Accountant (FCA), Fellow Member of Certified Management Accountant (FCMA), and holds Postgraduate Diploma in Management, Sri Jayawardanepura (PDM, Sri J.) and Diploma in Treasury Investment and Risk Management of Institute of Bankers of Sri Lanka (IBSL). He has been a long-standing member of the company’s senior management team, working alongside Yapa and the engineering team.

 

[mappress]
Press Release, February 25, 2014