According to World Bank estimates, Sri Lanka's manufacturing sector contributes around 18 percent to the country’s GDP. While clothing and textiles are the largest segments, the industry also includes rubber, plastic, fabricated metal, food and beverage, and chemical products. In the manufacturing industry, business leaders play a critical role in driving competitiveness, growth, and innovation. They use strategic management and cutting-edge technology to elevate industry standards and broaden their global market reach, which boosts Sri Lanka's economy in the process. One such leader is Chamindra Gamage, the Managing Director of Varna Limited.
Chamindra graduated from Colombo International School in Colombo, Sri Lanka, in 2006, where he excelled as head boy and basketball captain. He then went on to earn honors in Economics and Accounting and Finance from the London School of Economics. Chamindra began his career at MAS Capital, a subsidiary of MAS Holdings, Sri Lanka's largest apparel manufacturer. After a brief stint, he became a part of his family business, which includes apparel, aviation, and financial services. As an executive director, he provided strategic management and oversight across several subsidiaries. In 2020, Chamindra decided to leave the family business to focus on his ventures, especially Varna Limited, where he was instrumental in elevating the company to the next level. By 2023, he was promoted to managing director.
Under Chamindra’s tutelage, Varna is now one of the top producers of flexible packaging in Sri Lanka offering complete packaging solutions, from design to delivery. As Managing Director, Chamindra cultivates a culture of innovation and continuous improvement while skillfully managing risk, revenue, and profitability to enhance financial performance. Along with improving business capacities through learning and development initiatives, his focus is on launching new goods and services to satisfy evolving consumer needs.
Key Ethics and Principles in Leadership
Chamindra's leadership style is rooted in a strong set of morals and values. He places a lot of importance on listening to his team, even when their ideas challenge
his own beliefs. By actively seeking out different perspectives, he encourages collaborative decisionmaking, which helps the business move forward.
Taking risks is another key part of Chamindra's approach. During the COVID-19 pandemic and the economic crisis in Sri Lanka, he made bold moves by investing in new machinery and team building. Instead of cutting costs like many others, Chamindra chose to invest in capital and capabilities, which helped Varna expand its market share and stay ahead of the competition.
The company’s most important asset, according to Chamindra, is his team. He places a lot of value in them and emphasizes training, development, and learning from mistakes. His approach also includes a unique performance-related pay, tying compensation to both individual and company performance, to drive long-term success across all levels of the organization.
For me, leadership is the art of achieving greatness through the success and growth of others. It's not just about leading the way, but ensuring we all arrive together
Leveraging Technology for Competitive Advantage
To enhance operations and stay competitive, Chamindra invests in the latest, cutting-edge technology. The company uses a comprehensive ERP system to make data-driven decisions that boost efficiency and streamline processes. He's also spearheading the implementation of Industry 4.0, aiming to complete it by the end of the year.
Furthermore, recent investments in new machinery have boosted speed, delivery, and quality while cutting down on raw material waste. For example, the installation of a fully automated defect-detection camera systems in the printing department ensures strict control over quality by identifying printing errors, registration issues, and foreign particles. This technical integration strengthens Varna’s commitment to quality and client satisfaction, allowing the company to deliver products with a high level of confidence.
The Robust Way Ahead
In October 2023, Chamindra was selected by the Stanford Graduate School of Business for their prestigious and highly competitive Seed Transformation Program, which targets small and medium-sized enterprises (SMEs) in Asia and Africa. This 10-month program is designed to give management teams and entrepreneurs the skills, methods, and mindset for transformative growth. Chamindra has chosen Varna for this journey, and with plans to double its capacity over the next three years, the company is actively expanding its facilities and acquiring more property. “In the same time range, we intend to go public on the Colombo Stock Exchange” Chamindra shares. “We also have plans to initiate an Employee Stock Ownership Plan (ESOP) to reward and motivate our staff for their commitment and hard work”.
Chamindra Gamage, Managing Director, Varna Limited
Chamindra Gamage counts over 12 years of experience in multiple industries and has led many successful turnarounds and transformations. He currently holds positions of the Managing Director at Varna Limited, the Managing Director at Farmac International (Pvt) Ltd and the Director of Finance and Strategic Planning at Viluxur Holidays.He is also the Honorary Consul to Colombia in Sri Lanka and a founding Board member as well as Past President of Entrepreneurs Organization – Sri Lanka. He currently holds membership in the Entrepreneurs Organisation Sri Lanka and APAC, and the Chamber of Young Lankan Entrepreneurs (COYLE). Chamindra graduated with a BSc. (Hons) Economics and a Msc in Accounting and Finance from the prestigious London School of Economics and Political Science (LSE), UK.
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