CBL announces succession plan

To manage continuation and rapid expansion

A succession plan, outlining the structure, career path, progression and growth of several high level positions reporting to the Main Board have been drawn up to manage the rapid and sustained growth experienced by Ceylon Biscuits Ltd., the company announced this week from its head office at Makumbura, East of Colombo.

The announcement came after a high level internal conference that included the group’s main board of directors and invited representatives from Ernst & Young, tax and external audit consultants and Cameron Pale & Medina, inclusive communication agency.

Underdog for many years, Ceylon Biscuits, which emerged market leader with the brand Munchee capturing market leadership in biscuits in 2004, has seen rapid growth with volume share increasing continuously in local and international markets in other categories too, particularly chocolates, cakes and soya products. Other brands too of the CBL Group have achieved the coveted position of market leadership and a few being aggressive seconds.

Today, the CBL Group is an active player in the Asian region with its brands present in 39 countries, contributing 14 billion in annual turnover and rising, the announcement further stated, While CBL did not give a breakdown of foreign and local contributions to its turnover, the acquisition of a manufacturing unit if 175,000 sq.ft. on seven and a half acres in Pattiala, India is known to have significantly contributed towards it by establishing a growing brand presence in that USD one billion market. In each sector, a profusion of products, brands and subsidiaries – some of them acquired - and the offshore manufacturing unit in India has contributed to this remarkable expansion producing from chocolates and biscuits, soya products and organic canning to cultivation with backward integration of farmers. CSR projects commenced by the group stimulated agricultural growth and elevate the farming community. They include Organic Honey collection and processing – a project carried out in collaboration with the Dept. of Agriculture.

The processing of Pure Kitul Treacle and Jaggery, another such project is now well under way with the products finding export markets.

The result is that growth has outstripped the group’s present management. The group credits its business strategy based on a quadrant of competencies – marketing prowess, product innovation, multinational expansion and humane but efficient management for the ongoing success, but is apprehensive that the group in its current structure could keep pace with the demands of such high growth.
The CBL group which approved the succession plan recently, intends to launch it immediately, offering Sri Lankan senior managers an opportunity to align their careers with the growing success of the group. CBL expects those with an established track record holding important positions in business to apply.

The announcement giving reasons for why the CBL group expects high calibre, high potential candidates at managerial level to leave their jobs expressed the view that the CBL group offers a combination of benefits and succession right up to the position of Group Managing Director. Further CBL combines the perks and pay of a multinational with the pride and honour of contributing to the national economy while representing, perhaps the first and only true Sri Lankan multinational company, it explained.

Currently identified senior positions shall be advertised very shortly, the announcement stated in conclusion.

The board of executive directors of CBL are; Mr. Mineka.P Wickramasinghe, Chairman, Ramya Wickremasinghe, L.M.J de Silva MD, Nandana Wickremage Director Marketing & Sales, Jayantha Thenabadu, Director Technical, M/s Nishka Wee.rasuriya, Director Chocolates and Shea Weerasekera, Director.