Teejay Lanka PLC has announced the appointment of Mr Masaru Okutomi, the Chairman and CEO of Pacific Textile Holdings Limited of Hong Kong, as a non-executive Director of the Company with immediate effect.
Mr Okutomi replaces Mr Wan Wai Loi on the Board of Teejay Lanka PLC, consequent to a change in the latter’s role on the Board of Pacific Textiles, which has a 28 per cent stake in Teejay Lanka, the Company said.
Mr Okutomi has a Bachelor’s degree in Law from Hitotsubashi University, one of Japan’s top universities, and held senior management positions including Managing Director of Toray Industries (South China) Co. Ltd. and of Toray Industries (Hong Kong) Ltd.,Deputy Managing Director of Toray Industries (China) Co. Ltd.in the past.
He was re-designated from Vice-Chairman to Chairman and CEO of Pacific Textiles, a leading manufacturer of customised knitted fabric with an annual production capacity of approximately 87 million kg, on 1st October 2021, and leads the Group’s management team, overseeing overall production and operations, providing corporate direction and formulating business strategy.
Welcoming Mr Okutomi to the Board of the Company, Teejay Lanka Chairman Mr Bill Lam said his extensive experience in the management of a globally-significant textiles businesswould be an asset to Teejay’s own growth and expansion aspirations as it progresses towards its target of becoming a US$ 300 million business. “We also thank Mr Wan Wai Loi, for his exemplary service as a Board member of Teejay Lanka PLC,” Mr Lam said.“He has doneyeoman service shaping the journey of Teejay Lanka for the past 11 years and his guidance and wealth of knowledge was greatly appreciated by all his peers on the Board.”
Sri Lanka’s largest textile manufacturer and the first textile manufacturer in the country to receive membership of the US Cotton Trust Protocol, Teejay Lanka PLC is a public quoted company with 39 per cent public ownership. The company is backed by Sri Lanka’s largest apparel exporter Brandix Lanka which has a 33 per cent stake. Pacific Textiles of Hong Kong whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 28 per cent of Teejay Lanka.
The Company has been adjudged the Best Textile Exporter in Sri Lanka at the Presidential Export Awards presented by the Export Development Board (EDB) and has been named among the 100 Most Respected Companies in Sri Lanka by LMD.