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Wednesday, 27 May 2020 01:56 - - {{hitsCtrl.values.hits}}
Homegrown conglomerate Laugfs Holdings PLC has announced a key restructuring at the top to drive higher growth and ensure smooth management succession
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| W.K.H. Wegapitiya |
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| Thilak De Silva |
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| Piyadasa Kudabalage
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Top professional and former public sector leader Piyadasa Kudabalage has been appointed as the Group Managing Director and CEO as well as Group Managing Director of the public listed Laugfs Gas PLC, and Laugfs Power PLC.
Founder Chairman W.K.H. Wegapitiya said the appointment was part of the continuing group management succession plan.
Thilak De Silva who was the Managing Director of has been re-designated as Executive Deputy Chairman and Wegapitiya will ceases to hold the title of Group CEO but continue as Executive Chairman.
Both Wegapitiya and De Silva will continue to play an executive role to ensure a seamless management transition. De Silva will also be the Executive Vice Chairman of Laugfs Gas PLC.
Laugfs Gas said Kudabalage would contribute immensely with his treasure of knowledge, invaluable expertise and unparalleled skills acquired to ensure further development through the next phase of growth of Laugfs Group.
Established in 1995, Laugfs has expanded across over 20 industries with 4,000 employees and an annual turnover exceeding $ 300 million across power and energy, industrial/manufacturing, consumer retail, services, leisure and logistics sectors in Sri Lanka, Bangladesh, UAE, USA and the Netherlands.
Chaminda Ediriwickrama will continue as Director/CEO of Laugfs Gas PLC.
Kudabalage has an extensive and impressive career spanning well over 35 years both in the leading and reputable public and private sector organisations in a diverse landscape of businesses across, plantation management, insurance, banking and finance, leisure and hospitality, power and energy and industrial manufacture.
He had occupied the top-rung positions in all sectors he was engaged with. He was the one-time Managing Director/Chief Executive Officer of Sri Lanka Insurance Corporation Ltd., Litro Gas Lanka Ltd., Canwill Holdings Ltd. (Hyatt Hotel Group), Director People’s Bank and all its subsidiaries, Colombo Dockyard PLC, and was also the Chairman of Merchant Bank of Sri Lanka from January 2012 to September 2014.
Kudabalage is an exceptionally qualified and experienced professional and also an alumni of University of Kelaniya from where he was graduated in Business Administration and Management. Besides, he is a fellow member of the Institute of Chartered Accountants of Sri Lanka and also a fellow member of the Institute of Certified Management Accountants and the Institute of Chartered Professional Managers of Sri Lanka.
Laugfs Holdings PLC’S other directors include H.A. Ariyaratne, Murali Prakash and Dilshan Perera.
Laugfs Gas PLC’s other directors include H.A. Ariyaratne, T.K. Bandaranaike, N.M. Prakash, A.R.D. Perera and S.P.P. Amaratunge.
