Ex-pack Corrugated Cartons appoints M&A veteran Thulci Aluwihare as new Chairman

A strategic shift in corporate governance for the Sri Lankan packaging sector

The board of directors at Ex-pack Corrugated Cartons PLC has confirmed a significant leadership transition that signals a new strategic phase for the publicly listed packaging manufacturer. Effective November 18, 2026, Thulci Aluwihare will assume the role of Chairman, succeeding Sattar Kassim, who is retiring on his 70th birthday after a defining tenure at the helm of the Aberdeen Group subsidiary.

The appointment of Aluwihare, who currently serves as an Independent Non-Executive Director at Ex-pack, introduces a distinctly financial and strategic profile to the leadership of the corrugated board producer. With over 25 years of international experience spanning London, Melbourne, and Colombo, Aluwihare brings deep expertise in mergers and acquisitions, public-private partnerships, transaction advisory, and corporate restructuring.

From founder-led growth to capital market strategy

The transition marks a classic evolution in corporate governance for industrial firms moving from founder-centric leadership to specialized institutional management. Sattar Kassim, a founding figure of the Aberdeen Group, leaves behind a robust legacy. During his time as Chairman, he guided Ex-pack through its Initial Public Offering (IPO) on the Colombo Stock Exchange, securing the capital necessary to modernize its production capabilities and establishing a path of sustained profitability.

Under Kassim's leadership, Ex-pack invested heavily in advanced technologies, including the commissioning of a fully automated corrugator line that set new benchmarks for production efficiency and capacity in the Sri Lankan market. The company has also integrated sustainable manufacturing practices, aligning its operations with the growing global demand for circular economy principles in the packaging supply chain.

Implications for the corrugated packaging market

Aluwihare's background, which includes his current role as Deputy Managing Director of CHEC Port City Colombo and his pivotal work in establishing Sri Lanka's first foreign-currency-designated Special Economic Zone, suggests that Ex-pack may be positioning itself for aggressive regional expansion or strategic acquisitions. In a highly competitive corrugated market where scale and supply chain resilience are critical, having a Chairman with a strong M&A and capital markets pedigree provides a distinct advantage.

The Aberdeen Group has publicly stated its confidence that Aluwihare's expertise in investment and corporate governance will be invaluable as the company builds on its current foundation. For the wider packaging industry, this move highlights a growing trend where mid-cap regional manufacturers are increasingly turning to financial and strategic heavyweights to navigate complex capital markets, fund automation upgrades, and execute consolidation strategies in the corrugated sector.