Kavan Ratnayaka has been appointed as the Chairman of Lake House, Asian Mirror reliably learns.

Kavan is the elder brother of former UNP Parliamentarian Sagala Ratnayaka, who represented the district of Matara. The new Chairman is expected to assume duties tomorrow.

He was the Chief Corporate Officer of Cargills PLC and the Chief Corporate Officer of Dialog Axiata. Before that Ratnayaka was the Chief Executive Officer of Dialog Broadband Networks.

He was also the Country General Manager of IBM from 1998 to 2007.

An old boy of Royal College Colombo, Ratnayake holds a Bachelor of Science (physics) at the University of California.

He replaces Bandula Padmakumara, who held the same position under the UPFA government.