Piyadasa Kudabalage appointed as LAUGFS Group MD/CEO

CEYLON TODAY | Published: 2:00 AM May 28 2020
FT Piyadasa Kudabalage appointed as LAUGFS Group MD/CEO

LAUGFS Holdings Ltd has announced the appointment of Piyadasa Kudabalage as their Group Managing Director/CEO with effect from 21 May 2020. 

Kudabalage will oversee the operations of LAUGFS Holdings Ltd and all its subsidiaries and associates involved with multiple sectors of the economy. W. K. H. Wegapitiya and Thilak de Silva will remain in the Board of Directors as the Executive Chairman and the Executive Deputy Chairman respectively. 

Commenting on the new turn of events, Chairman W. K. H. Wegapitiya stated "We are pleased with the entry of Kudabalage to our strong congregation of professionals as their leader, and the new leadership to be provided by him will deliver great value and support to the several hundred thousands of our clients in the country as well as overseas". 

The Deputy Chairman Thilak de Silva emphasised that the appointment will see Kudabalage step-up the level of delivery of LAUGFS' ambitious growth plans and the performance of its multiple operations in the ever changing and also eternally challenging external environment. 

Kudabalage had an extensive career spanning 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. Kudabalage was the one-time Managing Director/Chief Executive Officer of Sri Lanka Insurance Corporation Ltd, Litro Gas Lanka Ltd, Canwill Holdings (Pvt) 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. 

He is a 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. 

The move comes as a part of the strategic transformation of the Group of Companies as the appointment also coincides with the 25th anniversary of the company. It was grown from a small start-up in 1995 to a highly diversified large conglomerate, engaged with mid and downstream industry of LP Gas, modern trade, petroleum retailing, lubricant blending and distribution, generation of renewable energy, leisure and hospitality, emission testing, manufacture and export of solid tyres etc. LAUGFS Holdings Ltd has recorded a turnover of Rs 65 billion for the year ended 31 March 2020 and it is one of the largest employers in the country with almost 4,000 members employed directly and its daily customer footprint is over 60,000. 

CEYLON TODAY | Published: 2:00 AM May 28 2020

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