He claimed that he was removed by way of a ‘Boardroom coup’, in a bid to facilitate the immediate sale of the ‘profitable’ State Owned Enterprise (SOE).

Meanwhile, Reyaz Mihular, a Non-Executive Director, has been appointed as the Non-Executive Chairman of the Board with effect from July 20.

In a media release, the STL’s Group Company Secretary Mahesh Athukorale, in terms of Section 8.1 of the CSE Listing Rules, said the new appointment was made pursuant to the Articles of Association of the Company.

Athukorale also said Rohan Fernando will, however, continue to be a Non-Executive Director of the Board.