Shiara Sellamuttu, Group Manager – Legal, Compliance & Company Secretary at MAC Holdings (Private) Limited, embodies a belief in the pursuit of justice, a principle that ignited her passion for the legal profession from the outset. With a career spanning across multiple countries and legal domains, her journey has been marked by a commitment to excellence and a dedication to advancing corporate governance standards.
Having recognized the importance of being adept in various legal jurisdictions, Shiara took proactive steps to become dual qualified, obtaining enrolment as a Solicitor of the Supreme Court of England & Wales in 2007, and subsequently as an Attorney-at-law in Sri Lanka in 2015. This strategic approach not only broadened her professional horizons but also equipped her with a nuanced understanding of diverse legal systems, crucial for navigating the complexities of cross-border transactions.
In her current leadership role within the MAC Holdings Group, comprising of more than 20 companies (“the MAC Group”), Shiara leverages her extensive experience to drive the organization towards excellence in corporate governance and cross-border transactional expertise. Continuously enriching her knowledge base, she recently completed a Diploma in Aviation Leasing & Finance in 2023 and is currently immersed in a Diploma in Shipping Law & Practice, aligning her expertise with the sectors in which the MAC Group operates. The significance of Shiara’s contributions transcends individual expertise; she is dedicated to imparting industry-specific knowledge to her cross-functional teams, fostering a culture of continuous learning and innovation.
Shiara’s professional journey is punctuated by moments that have shaped her approach to problem-solving, each experience contributing to her holistic perspective on legal practice. With a diverse portfolio spanning from aviation to construction law, she has encountered multifaceted challenges that have demanded innovative solutions tailored to the unique demands of each industry.
In the aviation industry, Shiara’s problem-solving ethos revolves around achieving sustainable outcomes for clients while navigating a complex landscape of IATA regulations, international conventions, and business imperatives. Her tenure as Group Legal Affairs Manager at Sri Lankan Airlines afforded her a deep understanding of the balance between passenger service, regulatory compliance, and commercial viability. This experience honed her ability to harmonize competing interests, ensuring that solutions are not only legally sound but also pragmatic and passenger-centric.
One pivotal moment in Shiara’s career that significantly influenced her professional growth was her ancillary designation as an Information Officer, apart from acting as Group Legal Affairs Manager at Sri Lankan Airlines. In this role, she served as a conduit between the airline and various stakeholders, responding to requests for public information under the Right to Information Act. This experience provided her with a comprehensive overview of the airline business, necessitating a delicate balance between macro and micro perspectives. Shiara’s ability to reconcile the diverse viewpoints of airline employees, competing airlines, trade unions, media institutions, and other stakeholders each with their own vested interests in the airline underscored her proficiency in navigating complex organizational dynamics while upholding transparency and accountability.
Transitioning to the construction industry, Shiara was presented with a different set of challenges, where the emphasis shifted towards balancing the critical components of time, cost, and quality in project delivery. Drawing on her expertise, she navigated the web of contractual notice obligations and commercial drivers, mitigating disputes and ensuring project delivery. She emphasizes on the need for Sri Lanka to consider enacting security of payment legislation, which can help improve cash flow in such construction projects.
With her extensive experience in legal practice spanning diverse industries, Shiara offers valuable insights into the mining industry and the various challenges that can deter foreign investors from engaging in business ventures in the sector. From the complexities of industrial mining licensing with frequent renewals; to disputes over surface rights and mineral rights; to fluctuations in royalties and value addition requirements prescribed by the government; and the need to deal with so many state agencies to obtain approvals, the sector presents formidable obstacles to mining companies seeking to establish and maintain operations. Shiara’s approach to mitigating these challenges is comprehensive and strategic. She emphasizes the importance of considering investment agreements with stabilization clauses of a non-fiscal nature, assuring investors amidst regulatory uncertainties. By advocating for properly worded arbitration clauses and leveraging bilateral investment treaties, she seeks to instil confidence in investors and mitigate the risks associated with political and regulatory fluctuations. Her focus on legal safeguards underscores her commitment to protecting the interests of investors and ensuring the longterm viability of their projects.
As she embarks on her journey within the MAC Group, Shiara envisions achieving significant milestones that will further enhance the company’s reputation for excellence and integrity. Her illustrious career has been marked by adept navigation of the landscape of public-private partnerships (PPPs), a strategy she advocates for the MAC Group to explore. Drawing on her experience working in both the private and public sectors, she understands the nuances of each domain and recognizes the potential synergies that can be unlocked through strategic collaborations. By advocating for PPPs with state-owned enterprises, particularly involving the air and maritime ports authorities, wherein the MAC Group operates, Shiara aims to drive growth and innovation in Sri Lanka while navigating the complexities of the legal landscape. This is demonstrated by Shiara’s expertise working in state-owned airlines which equipped her with invaluable insights into the rigorous approval processes mandated by state-owned enterprises including adherence to government procurement guidelines, approval of the Attorney General and the need for Cabinet approvals. Furthermore, her proactive stance extends to advising on specialpurpose vehicle arrangements, enabling the MAC Group to optimize its partnerships with foreign investors. By leveraging this experience, Shiara is poised to guide the MAC Group through the intricacies of such transactions, ensuring adherence to best practices in corporate governance.
Shiara’s leadership style within the legal, compliance, and company secretarial domains is underpinned by a set of personal values and principles that prioritize mentorship, efficiency and inclusivity. Central to her approach is the implementation of administrative processes aimed at maximizing productivity and maintaining organizational excellence. By instituting practices such as maintaining and auditing electronic files, setting biweekly targets, and curating a repository of template agreements, she ensures that a culture of accountability and efficacy is fostered within her legal team.
Recognizing the role of mentorship in nurturing talent and fostering professional growth, Shiara places a strong emphasis on guiding and mentoring people. She understands that empowering individuals to reach their full potential not only benefits the organization but also cultivates a sense of fulfilment and purpose among team members. By leveraging her experiences, she creates an environment where staff feel supported, encouraged, and equipped to excel in their roles.
Shiara champions the importance of women in corporate leadership, emphasizing the need to harness their unique insights and contributions to build a more diverse and inclusive corporate culture. By prioritizing gender diversity and creating opportunities for women to thrive within the organization, she demonstrates her dedication to fostering a workplace where every individual is empowered with an equal opportunity to succeed.
Shiara is particularly interested in advising on projects that would promote Sri Lanka as a maritime and logistics hub due to its geo-strategic location at the crossroads of major shipping routes between the Far East and continents of Europe, making the country a convenient port of call for major shipping lines. She draws special attention to maritime port projects that would develop warehousing in freeport zones to promote Multi-Country Consolidation; improvement of passenger terminal infrastructure in the ports to attract cruise operators; the development of salvage operation services for maritime disasters; the development of existing harbours/ports to act as a location for ship/lay-ups and berthing facilities, and the expansion of port storage capacity for bunker-fuel. The increase in Colombo’s transhipment volumes, partly stemming from the Red Sea crisis, has also emphasized the importance of port expansion projects such as the East Container Terminal and Colombo West Container Terminal that are currently underway. Shiara recognizes that prevailing laws and regulations in the maritime and logistics sectors are outdated and that legal reforms are warranted in the industry.
In essence, Shiara’s vision for the MAC Group encompasses a multifaceted approach to legal strategy, rooted in her extensive experience and unwavering commitment to excellence. Through strategic partnerships, transactional expertise, and a dedication to upholding integrity, Shiara aims to propel the MAC Group towards new heights of success while fostering a culture of ethical leadership.