SESSION OVERVIEW

It’s often said that succession planning in family businesses is a process, not a one-time event. The key question is: when is it too early to start this process?

In reality, it’s never too early. Effective succession planning should start long before the actual transition is required, providing ample time to groom the next generation of leaders, align family and business goals, and ensure a smooth transfer of knowledge and ownership.

MAS Holdings is a Sri Lankan apparel manufacturer founded in 1987 by brothers Mahesh, Sharad, and Ajay Amalean. Over the years, the company has grown from a domestic presence to international recognition. The fortitude and foresight with which MAS has expanded its offerings over the past four decades can be attributed to the vision and leadership of its founders. They believe in putting people first, adapting to the times, creating opportunity through adversity, and embracing change with courage.

Recognising the importance of long-term family business planning, MAS Holdings collaborated with Professor John Ward, a world-renowned expert in strategic management, leadership, and family enterprise continuity, over 20 years ago. In this session, we will hear from father and son, Ajay and Kunal Amalean, as they share how their early engagement in succession planning has successfully prepared the next generation for leadership. They will take us through their 20-year journey, highlighting key strategies that helped ensure the continued success and legacy of MAS Holdings.

Ajay Amalean is a co-founder of MAS Holdings (Pvt.) Ltd, the largest apparel tech company in South Asia and a design-to-delivery solutions provider in apparel and textile manufacturing. Headquartered in Sri Lanka, the company has manufacturing facilities located in 16 countries, providing employment to over 100,000 associates.

He has always been very passionate about product. With this expertise, he went onto lead the design and product development function at MAS which today, stands as the largest design facility in Sri Lanka’s Apparel industry.

He also built amanté, the No.1 lingerie Brand in the region.

Ajay believes in empowering and developing people. He has worked with people at every level in the organization and is considered by many as the heart of MAS. 

Ajay has now transitioned to a new phase in his life’s journey, honing on his passion for giving back to the community.  He represents MAS as a Trustee on the board of the AYATI Foundation, driving his purpose to give all children with disabilities, an equal opportunity to reach their true potential in life.

Ajay is an alumnus of Royal College, Colombo and IIT Madras (Mechanical Engineering).