East West Properties PLC has appointed Nishantha Priyanjith Sooriyaarachchi, an Executive Director of the company, as its new chairman, with effect from October 24.
Former Chairman Nahil Wijesuriya will remain an Executive Director.
Wijesuriya recently also transferred his majority stake in East West Properties PLC, which has a subsidiary operating a Marriot hotel in Weligama to his two sons and daughter. This was a Rs.1.1 billion deal.
Following the transaction, Vajira Wijesuriya has 21.3 percent stake in East West Properties, Vijitha Wijesuriya has 25.83 percent stake and Anika Wijesuriya has 21.55 percent stake.
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