Composition of the Committee
The Board Strategy Development Committee (the BSDC) consists of the following members whose profiles are given in the section on Board of Directors and Profiles.
Board membersMr K G D D Dheerasinghe*(Chairman) Mr M P Jayawardena* (Director) Mr S Renganathan (Managing Director/Chief Executive Officer) Prof A K W Jayawardane* (Director) Mr K Dharmasiri* (Director) Mr L D Niyangoda* (Director) Ms N T M S Cooray* (Director) (Appointed w.e.f. March 28, 2019) Mr G S Jadeja (Resigned w.e.f. March 28, 2019) |
Secretary to the CommitteeMr R A P Rajapaksha(Company Secretary) |
*Independent Non-Executive Director
Attendance at Meetings
| Name | Eligible to attend/ Attended |
| Mr K G D D Dheerasinghe | 11/11 |
| Mr M P Jayawardena | 11/11 |
| Mr S Renganathan | 11/11 |
| Prof A K W Jayawardane | 11/10 |
| Mr K Dharmasiri | 11/11 |
| Mr L D Niyangoda | 11/10 |
| Mr G S Jadeja | 02/02 |
| Ms N T M S Cooray | 09/07 |
The Committee assisted the Board by evaluating the business strategies and strengthening core competencies.
Charter of the Committee
The Committee was established to have an overall Bank-wide strategic management oversight.
The Committee is empowered:
- To assist the Board in performing its oversight responsibilities relating to the Bank’s strategy.
- To advise and monitor the Management on:
– Defining of business strategies geared for the sustainable development of the Bank; and
– Establishment of processes for planning, implementing, assessing, and adjusting of the business strategy.
- To oversee the Management’s engagement on the strategic perspective, direction and development of the strategy for the Bank and its business units.
- To oversee the Management’s implementation of the approved strategic plan and the progress against strategic milestones and goals.
- To oversee the Management’s implementation of major business transformation projects and their execution.
- To engage in detail discussion and provide guidance to the Management on:
– Governance, risk appetite, financial and capital planning, liquidity and fund management, control environment and resources required to support the Bank’s strategic objectives.
– Divestitures, Mergers and Acquisition strategies including post transaction performance tracking.
– The impact of changes in the competitive environment.
Activities in 2019
The BSDC assisted the Board by evaluating the business strategies and strengthening core competencies of the Bank.
The BSDC met frequently than the minimum number of meetings as per Terms of Reference (11 meetings in 2019) and was able to offer greater responsiveness in the strategic decision-making process of the Bank.
In addition, the BSDC reviewed matters related to capital planning, dividend policy, acquisition and investment opportunities.
Corporate Plan and strategies planned by the management were reviewed against the achievement and necessary directions were provided to management to achieve the desired results.
K G D D Dheerasinghe
Chairman
Board Strategy Development Committee
Colombo
February 20, 2020