Abans restructures Director Board

Abans PLC recently restructured its Board of Directors with the introduction of two new independent directors for stronger corporate governance and streamlining operations.

To maintain a ratio of 30% of independent directors on the board, P.N. Pestonjee, Clive Fernando and Allan Raffel voluntarily stepped down to make way for the new independent directors.

The Directorate of the company will now comprise Chairperson Mrs. Aban Pestonjee Managing Director Behman Pestonjee, Directors Rusi Pestonjee, Mrs. Saroshi Dubash and Independent Non-Executive Directors H. Embuldeniya and S. J. de S. Wijeyeratne.

The majority shareholders of Abans PLC are the Pestonjee family, which has interests in engineering, automobiles and motor cycles, real estate development, travels and tours, facility and environment services, software development and information technology, shipping and logistics, advertising, printing and digital marketing, retailing of clothing and lifestyle goods, agriculture and McDonald's Restaurants, functioning as 23 independently operating companies.