Mazagon Dock Nominees Appointed to Colombo Dockyard Board

Colombo Dockyard PLC has announced the appointment of several new directors to its Board, following nominations by its major shareholder Mazagon Dock Shipbuilders Ltd (MDL), according to a disclosure made to the Colombo Stock Exchange today (24).

The company said the appointments, effective from 24 February, were made in compliance with listing rules and were reviewed and recommended by the Nomination and Governance Committee before receiving board approval at a meeting held the same day.

Under the changes, Capt. Jagmohan, Chairman and Managing Director of Mazagon Dock Shipbuilders, has been appointed as a Non-Executive, Non-Independent Director. Also joining the board in similar capacities are Biju George, Director (Shipbuilding) of MDL, and Ruchir Agrawal, Director (Finance) of MDL.

In addition, Thimira S. Godakumbura, the current Managing Director and Chief Executive Officer of Colombo Dockyard, has been nominated as a director representing MDL.

The company noted that the newly appointed MDL directors do not hold shares in Colombo Dockyard as of the date of their appointments.

Colombo Dockyard stated that detailed profiles of the appointees, outlining their extensive experience in naval architecture, shipbuilding, finance, and defence sector operations, were submitted along with the disclosure.

The board changes come as the shipbuilding and heavy engineering firm continues to strengthen governance and strategic oversight, reflecting the involvement of its majority shareholder in steering long-term growth initiatives.

Source: Adaderana