Arpico Finance Company PLC announced that Mr. B. Ponnambalam, chairman of the company has retired from the board of directors of the company on June 27, 2017, upon reaching the age of 70 years. The company at its board meeting held on June 27, 2017, approved the appointment of Dr. L. R. Karunarathna, non executive director as the chairman of the company, effective from June 28, 2017 and the approval of the Central Bank of Sri Lanka has been obtained with regard to this. Mr. Lyle D. Peiris has been appointed as the senior director with effect from June 27, 2017 and the approval of the Central Bank of Sri Lanka has been obtained for this too.