Colombo Trust Finance PLC announced the appointment of R. Theagarajah as non-independent, non-executive director/chairman with effective February 1, 2017. Presently he is joint deputy chairman of Cargills Bank Limited. he served as director/chief executive officer of National Development Bank PLC from August 2013 to November 30, 2016. The company also announced resignation of S.M.G Dunuwille for the position of non-independent, non-executive director, with effect from February 1, 2017. The Central Bank of Srilanka granted approval for the resignation and E.M. Mangala Boyagoda will step down from chairperson with effective February 1, 2017 and will remain on the board as non-independent, non-executive director.