Singer Finance announced that H.D.S. Amarasuriya, whose successful chairmanship spanned Singer Finance's formative years, and who served on the Board of Singer Finance for nine consecutive years since its incorporation, will be stepping down from the Board of Singer Finance to comply with the Governance Direction of the Central Bank of Sri Lanka. Asoka Pieris, current CEO of the Singer Group, too has served on the board since its inception and completed nine years of service. Hence, both H.D.S. Amarasuriya and Asoka Pieris will be stepping down from the Board of Singer Finance (SFL).

However, they will continue to serve on the Board of Singer (Sri Lanka) PLC, the parent company of Singer Finance. Dr. Saman Kelegama replaces H.D.S. Amarasuriya as Chairman of Singer Finance (Lanka) PLC. Dr. Kelegama looks set for a seamless transition, after having served as a Director of SFL since 2008, and as the Chairman of the Integrated Risk Management Committee of the Board.