Verified

Fairway Holdings appoints Ashean Karthelis as Group Managing Director

Fairway Holdings Ltd., yesterday said it has appointed Ashean Karthelis as Group Managing Director, marking an important milestone in the group’s continuing journey of growth.

The appointment recognises Ashean’s contribution over the past four and a half years in bringing greater structure, stability and strategic direction to Fairway’s diverse business portfolio. Having served as Group Chief Executive Officer, he has helped strengthen organisational alignment, accountability and coordination across the Group, establishing a foundation for its next phase of development.

As Group Managing Director, Ashean will continue to provide overall Group leadership across real estate, leisure, construction and interior solutions, renewable energy and other business interests, with an increased focus on driving growth, strengthening business performance and ensuring long-term sustainability.

Chairman Virath de Alwis said: “Ashean’s appointment as Group Managing Director is a recognition of the contribution he has made to Fairway over the past four and a half years. His commitment to bringing structure and stability across our businesses has helped strengthen the Group’s foundations and prepare us for the opportunities ahead.

“Having worked closely with Ashean from the beginning of his journey at Fairway, we have developed a shared understanding of our future aspirations and the responsibility we carry in building on our Founder’s legacy. I look forward to continuing this partnership as we take Fairway to new heights, with a clear focus on growth, sustainability and our vision of Creating Vibrant Communities.”

A defining influence on Ashean’s leadership journey at Fairway was the two and a half years he spent working under the guidance and mentorship of the late Founder Chairman, Hemaka de Alwis. This experience gave him a deeply rooted understanding of Fairway’s ethos, its entrepreneurial spirit and the Founder’s belief in creating businesses that contribute meaningfully to people’s lives and communities.

His close working relationship with Virath de Alwis, established from the outset of his tenure, has complemented that grounding with a shared appreciation of the next generation’s ambitions for Fairway. Together, these relationships provide continuity between the Group’s founding values and its future direction under Virath’s chairmanship.

Director Sundari de Alwis said: “Hemaka built Fairway with a vision that extended beyond individual businesses. He believed in creating vibrant communities and in the people who would help bring that vision to life. The time Ashean spent under his guidance gave him a valuable understanding of those beliefs and the values at the heart of Fairway.

“It is encouraging to see that understanding reflected in Ashean’s commitment to the Group and in the close working relationship he has built with Virath. This appointment recognises his contribution and the confidence we place in him to help carry Fairway’s legacy forward while supporting its continued growth.”

The appointment reinforces Fairway Holdings’ commitment to leadership continuity, disciplined execution and sustainable expansion. Working closely with the Chairman, Board of Directors and business leadership teams, Ashean will lead the translation of the Group’s ambitions into clear priorities and measurable outcomes across its business verticals.