Governance

Amal Cabraal who functions as the Chairman at Sunshine Holdings is a Marketer by profession and a Fellow of the Chartered Institute of Marketing-UK. He holds an MBA from the University of Colombo and is an executive education alumnus of INSEAD-France.

He is presently the Chairman of Ceylon Beverage Holdings PLC, Lion Brewery (Ceylon) PLC, CIC Feeds Group and Silvermill Investment Holdings (Private) Ltd.

Amal is also a Non-Executive Director of John Keells Holdings, Hatton National Bank and an advisor to a number of leading companies. He is a committee member of The Ceylon Chamber of Commerce and serves on the Management Committee of the Mercantile Services Provident Society.

Govindasamy is a visionary leader, and industry veteran experienced in the art of socially responsible entrepreneurship. With over 26 years at its helm, he is presently the Deputy Chairman of Sunshine Holdings PLC . He also serves as a Governing Board Member of the Central Bank of Sri Lanka and he is the former chairman at the Ceylon Chamber of Commerce.

He holds an MBA and a BSc in Electrical Engineering from the University of Hartford, USA, and held several positions in finance and management there.

 

Shyam Sathasivam is the Group CEO at Sunshine Holdings PLC. He is a graduate of the London School of Economics, UK with an MBA from the Kellogg School of Management, Northwestern University, USA and is currently pursuing the Owner/President Management (OPM) program at Harvard Business School, USA.

He brings over 21 years of corporate experience, demonstrating local business leadership, executive management skills, and extensive expertise in healthcare and consumer sectors. He started his career at Arthur Andersen, UK, in Corporate Finance, focusing primarily in raising capital for mid-sized companies. He is the former president of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) and also serves as a committee member of the Ceylon Chamber of Commerce (CCC). He joined Sunshine Holdings in 2005.

G Sathasivam who began his career in the pharmaceutical sector is the Founder of Sunshine Holdings PLC.

Over the 50 years of success and innovation, he established Sunshine Healthcare Lanka Limited (SHL) into a leader in Sri Lanka’s pharmaceutical industry. Not content to rest on his laurels, he drove the Group’s diversification into unchartered territories – moulding Sunshine Holdings into the pride of the nation.

Sathasivams business acumen has been recognised both in Sri Lanka and abroad.

A D B Talwatte is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute of Management Accountants of the UK.

He now functions as the Chairman of Management Systems (Pvt) Limited (MSL) and Chairman of Integrated Reporting Council of Sri Lanka.

Talwatte has served as the Country Managing Partner of Ernst & Young for over a decade. Besides his distinguished career of more than 37 years in Assurance, Business Risk and Advisory Services, he has served as the head of numerous leading industry bodies and has been closely associated with the development of corporate governance in Sri Lanka.

Sanjeev Shishoo is a qualified healthcare management professional holding a B Pharma, M Pharma and an MBA from the Indian Institute of Management – Calcutta, a leading business school in India.

He was the Corporate Vice-President, Global Shared Services, at Novo Nordisk a global healthcare company with more than 90 years of innovation and leadership in diabetes care. He has previously been the Vice-President, Business Area Oceania & South East Asia, based in Kuala Lumpur, Vice-President, Regional Officer Far East based in Bangalore and Vice-President of the Regional Office in India.

Governance

The corporate structure of Sunshine Holdings PLC is one which has evolved over five decades, in keeping with regulatory developments and international best practice, carefully balancing legitimate interests of all key stakeholders. We are committed to good corporate governance, promoting long-term interests of all stakeholders including the general public.

Compliance

Board of Directors at Sunshine is elected by the shareholders to oversee the long term overall success of the conglomerate and its financial strength as the ultimate decision making body of the Group. It comprises of members with experience and knowledge with specific acumen in terms of commercial, financial and or technical expertise.

The Corporate Governance Guidelines established by the Board provides the framework for effective governance of the entire Group including appointing and overseeing members of senior management, who are accountable to the Board.

The Board regularly reviews developments in corporate governance and updates the Corporate Governance Guidelines and other governance materials, as it deems necessary and appropriate. The Board also provides guidance for the formulation of the Group’s short, medium and long term strategic plans and approves the same at meetings convened specifically for this purpose.

Group Executive Committee members are responsible for formulating strategies, action plans with respect to their business units, which are subject to approval by the board.

The Board, through the involvement of the Group Executive Committee, takes steps to gain assurances on the effectiveness of control systems in place. The Audit Committee receives regular reports on the adequacy and effectiveness of internal controls in the Group, compliance with laws and regulations, and established policies and procedures of the Group. The Board has direct access to the Chairman of the Audit Committee and reviews reports of the Internal Auditors.

Across the Group a “Code of Conduct and Ethics” is followed that applies to the Board of Directors, Management and employees. The Code’s level of compliance is monitored through an annual audit carried out by the respective business units and at the holding company level.

Each of our subsidiaries maintains separate risk management functions, while as a group, Sunshine Holdings manages risks through an effective governance framework through the Group's risk review committee that ensures regulatory compliance, transparency, and accountability, avoiding conflict of interest and safeguarding the integrity of our financial reporting and disclosures.

Sudarshan Jain, former Managing Director of Abbott Healthcare Solutions India. is a well-respected leader counting 40 years of experience in the global healthcare arena. He has been associated with over 30 brands placed within the top 300 in the Indian Pharmaceutical industry, across Pharmaceutical, OTC, Hospital, Diagnostic and Nutrition verticals.

Sivakrishnarajah Renganathan completed his entirety of his more than 41 years banking career at the Commercial Bank of Ceylon PLC and had held several key positions in the Bank during such tenure. He retired as the Bank’s Managing Director / Chief Executive Officer after serving the Bank’s Board as an Executive Director for nearly 8 years.

Renganathan, a Fellow of the Chartered Institute of Management Accountants, UK (FCMA), Chartered Global Management Accountant (CGMA), Fellow of the London Institute of Banking & Finance, UK (FLIBF) and a Fellow of the Institute of Bankers Sri Lanka (FIB), had received extensive Leadership, Management and Banking training locally and in overseas countries.

Reyaz Mihular was appointed to the Company’s Board as an Independent Non-Executive Director in 2023. Reyaz served as the Managing Partner of KPMG Sri Lanka and Maldives from 2012 to 2022 and was the Chairman of KPMG’s Middle East and South Asia (MESA) Regional Cluster during 2018 to 2021. Reyaz previously served a term as the Chief Operating Officer of the MESA regional office. He also served on KPMG’s Europe Middle East and Africa (EMA) Board and on the Global Council of KPMG International.

He presently serves as Chairman of Bairaha Farms PLC and as an Independent Non- Executive Director of Nestle Lanka PLC, Melstacorp PLC, Sri Lanka Telecom PLC, Agility Innovation (Pvt) Ltd and LTL Holdings Ltd. He also serves on the Colombo Port City Economic Commission as a Commissioner and as a Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka.

Reyaz has completed International Executive Education programmes at INSEAD, France, Harvard Business School and the London Business School, UK.

Aruni Goonetilleke was re-appointed as a Director in 2023. With over 25 years of experience in global financial markets, Goonetilleke brings expertise in governance, enterprise risk management, internal audit and credit analysis. She has worked in senior transformational roles in global and local banks in Singapore and Sri Lanka and across several geographies in her credit and internal audit role with Standard Chartered Bank, Singapore.

She has held the position of Board Director at Sunshine Holdings PLC from August 2020 to November 2021, demonstrating her prior commitment to the organization’s growth and success. 

Goonetilleke holds a Bachelor of Laws (Honors) from the University of Colombo and a Master of Laws from Harvard University, Cambridge, MA.

Aruna is an accomplished Group Chief Financial Officer with a wealth of experience and expertise in Financial and Business management spanning over two decades. 

Aruna is a Fellow Member/ FCA of the Institute of Chartered Accountants of Sri Lanka and an Associate Member/ ACMA of the Institute of Certified Management Accountants of Sri Lanka. In addition, he holds a degree in Marketing Management from the University of Sri Jayawardenapura, Sri Lanka and is CIM (UK) qualified. 

Governance

The corporate structure of Sunshine Holdings PLC is one which has evolved over five decades, in keeping with regulatory developments and international best practice, carefully balancing legitimate interests of all key stakeholders. We are committed to good corporate governance, promoting long-term interests of all stakeholders including the general public.

Amal Cabraal

Chairman

V Govindasamy

Deputy Chairman

S G Sathasivam

Director / Group Chief Executive Officer

G Sathasivam

Director

A D B Talwatte

Director

Sanjeev Shishoo

Director

Sudarshan Jain

Director

S Renganathan

Director

Reyaz Mihular

Director

Aruni Goonetilleke

Director

Aruna Deepthikumara

Director / Group Chief Finance Officer

Compliance

Board of Directors at Sunshine is elected by the shareholders to oversee the long term overall success of the conglomerate and its financial strength as the ultimate decision making body of the Group. It comprises of members with experience and knowledge with specific acumen in terms of commercial, financial and or technical expertise.

The Corporate Governance Guidelines established by the Board provides the framework for effective governance of the entire Group including appointing and overseeing members of senior management, who are accountable to the Board.

The Board regularly reviews developments in corporate governance and updates the Corporate Governance Guidelines and other governance materials, as it deems necessary and appropriate. The Board also provides guidance for the formulation of the Group’s short, medium and long term strategic plans and approves the same at meetings convened specifically for this purpose.

Group Executive Committee members are responsible for formulating strategies, action plans with respect to their business units, which are subject to approval by the board.

The Board, through the involvement of the Group Executive Committee, takes steps to gain assurances on the effectiveness of control systems in place. The Audit Committee receives regular reports on the adequacy and effectiveness of internal controls in the Group, compliance with laws and regulations, and established policies and procedures of the Group. The Board has direct access to the Chairman of the Audit Committee and reviews reports of the Internal Auditors.

Across the Group a “Code of Conduct and Ethics” is followed that applies to the Board of Directors, Management and employees. The Code’s level of compliance is monitored through an annual audit carried out by the respective business units and at the holding company level.

Each of our subsidiaries maintains separate risk management functions, while as a group, Sunshine Holdings manages risks through an effective governance framework through the Group's risk review committee that ensures regulatory compliance, transparency, and accountability, avoiding conflict of interest and safeguarding the integrity of our financial reporting and disclosures.

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