A year after Sashi Rajamahendran took over the reins of the Capital Maharaja Group (CMG), the conglomerate is going through some sweeping changes, the group announced last week in a press release.
“The Group is broadbasing its decision-making processes to give more opportunity for career growth at all levels of its management structure. In line with that, two new positions have been layered in, with Group Directors Nedra Weerasinghe and S C Weerasekera both being appointed as Group Director/Chief Operating Officer (COO) to helm the Group’s Industrial and Retail/Strategic Business hubs respectively,” the release said.
Chairman of CMG, Sashi Rajamahendran says apart from laying a strong emphasis on recognizing the sustained achievement of its people from time to time, the Group believes in blending its expertise across the Group’s multiple businesses.
“This allows for maximum synergistic benefits to them as well as the Group. Nedra and Shan are two Group Directors on the Main Board, involved in handling operations. They have served the Group with panache and have handled two of the most important business hubs over the past several years. We believe the specific portfolios assigned to them under the new positions will give them the impetus to further grow the business,” he said.
Effective from June 23, S C Weerasekera will be Group Director/COO of CMG’s Industrial Hub, continuing to give leadership and grow business for S-Lon, PE+, Kevilton, Kansai Lanka and Herrero. Nedra Weerasinghe will be the Group Director/COO heading the Group’s retail hub and strategic business initiatives.
“While the retail segments of the Group are relatively new, it is a key area of focus for the future expansion and development of the Group. Sunil Kanojia, Group Director/CEO of CMG will continue to lead all CMG operations and he will guide both Shan and Nedra in their new roles,” the release said.
It added that their media company which has organically grown in the last 30 years is also being restructured to ensure better clarity and focus in the news and entertainment business. Chevaan Daniel, who is currently the Group Director in charge of News First, will also now provide leadership to MTV Channel (Private) Limited.
“The current situation in the country requires all of us to be agile and receptive to change. We as a Group, throughout our 90 years of existence have faced many adversities and overcome them with fortitude and innovative thinking. In facing today’s crisis which is not only local but spreading across the globe, we need our leaders to be closer to the ground, and respond intelligently and appropriately to the changes that can come very fast and even be devastating at times. This is not a time to be relying only on our standard operating procedures but to be creative in our approach. I am confident the management restructuring will get CMG ready for the next level of growth and wealth creation,” says the Chairman of CMG. The Group with its ‘Employees First’ ethos is moving boldly to its next phase in the ever-changing business environment, the release concluded.
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