Colombo, Sri Lanka – 24 September 2026 – Sarvodaya Development Finance PLC (SDF) has announced significant changes to the composition of two of its crucial Board Sub-Committees, reinforcing its commitment to robust corporate governance and risk management. The reconstitution, approved at a Board Meeting held on 23rd September 2026, will come into effect from 1st November 2026.
The changes primarily affect the Board Integrated Risk Management Committee (BIRMC) and the Board Related Party Transactions Review Committee (BRPTRC), according to an official disclosure made to the Colombo Stock Exchange (CSE).
Board Integrated Risk Management Committee (BIRMC) Sees New Leadership
The BIRMC, vital for overseeing the company’s risk framework, will see a change in its leadership. Mr. Amrit CanagaRetna, a Non-Executive, Independent Director, will step down from his role as Chairman of the BIRMC. Taking over the helm will be Mr. Nandika Buddhipala, also a Non-Executive, Independent Director, who has been appointed as the new Chairman.
Following this reconstitution, the BIRMC will comprise:
- Mr. Nandika Buddhipala – Non-Executive, Independent Director (Chairman)
- Mr. Channa de Silva – Board Chairman / Non-Executive, Non-Independent Director (Member)
- Mr. Amrit CanagaRetna – Non-Executive, Independent Director (Member)
- Mr. Dammika Ganegama – Senior Director / Non-Executive, Independent Director (Member)
Board Related Party Transactions Review Committee (BRPTRC) Composition Updated
The BRPTRC, responsible for ensuring transparency and integrity in transactions involving related parties, will also undergo adjustments to its membership. Mr. Channa de Silva, the Board Chairman and a Non-Executive, Non-Independent Director, will cease to be a member of this committee. Ms. Shehara de Silva, a Non-Executive, Independent Director, will join the committee as a new member.
The reconstituted BRPTRC will be composed as follows:
- Mr. Amrit CanagaRetna – Non-Executive, Independent Director (Chairman)
- Mr. Dammika Ganegama – Senior Director / Non-Executive, Independent Director (Member)
- Ms. Shehara de Silva – Non-Executive, Independent Director (Member)
Sarvodaya Development Finance PLC affirms that this announcement is made in full compliance with Rule 9.10.3 of the Listing Rules of the Colombo Stock Exchange, highlighting the company’s adherence to regulatory requirements and best practices in corporate governance. These strategic changes are expected to further strengthen the oversight mechanisms within SDF, promoting enhanced transparency and effective risk management.
Source: Read original document
