Kudabalage’s Group MD appointment coincides with Laugfs Group 25th anniversary
Laugfs Holdings Limited announced the appointment of Piyadasa Kudabalage as their Group Managing Director/ceo with effect from 21st May 2020. Kudabalage, consequently will oversee the operations of Laugfs Holdings Limited 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 of the company.
The move comes as a part of the strategic transformation of the Group of companies and marks the beginning of an exciting new chapter for this growing business conglomerate.
The appointment of Kudabalage also coincides with the watershed moment of 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 & hospitality, emission testing, manufacture & export of solid tyres and several more sectors.
Laugfs Holdings Ltd has recorded a turnover of LKR 65 Bn for the year ended 31st 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 well over 60,000.
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”.
Thilak de Silva, the Deputy Chairman emphasized that the appointment will see Kudabalage step-up the level of delivery of Laugfs’s ambitious growth plans and the performance of its multiple operations in the ever changing and also eternally challenging external environment.