Lankem Developments PLC announced that Mr. A Rajaratnam has resigned from the office of chairman with effect from March 1, 2013. However, Mr. A. Rajaratnam will continue as a director of the company. The company also announced that Mr. S.D.R. Arudpragasam, who serves as director on the board of the company has been appointed chairman of the company with effect from March 1, 2013.