By Adolf
On February 3, 2025, Harry Jayawardena passed away in Colombo at the age of 82. His demise marked the end of an era, but his contributions will continue to influence Sri Lanka’s economic landscape.Deshamanya Don Harold Stassen Jayawardena, widely known as Harry Jayawardena, was a towering figure in Sri Lanka’s business landscape. Born on August 17, 1942, in Ja-Ela, British Ceylon, he rose from humble beginnings to become one of the nation’s most influential industrialists. His journey from a tea trader to a business magnate exemplifies determination, strategic vision, and an unwavering commitment to excellence.
Early Life and Career
Harry Jayawardena began his professional journey in the tea industry, joining a British-owned tea export firm as a tea trader. His keen business acumen soon led him to the State Trading Corporation (Consolidated Exports), commonly known as Consolexpo Ltd., where he headed the Tea Department. During the 1970s, under Prime Minister Sirima Bandaranaike’s administration, Consolexpo held a monopoly over Sri Lanka’s tea exports, providing Jayawardena with invaluable experience in international trade.
Entrepreneurial Ventures
In 1977, Jayawardena ventured into the private sector by founding Stassen Exports Limited, focusing on exporting Ceylon Tea. His entrepreneurial spirit didn’t t stop there; in 1988, his companies acquired a significant stake in Hatton National Bank, Sri Lanka’s largest private commercial bank. Later a few more bank’s stakes. This move marked the beginning of a series of strategic investments across various sectors.
In 1992, under his leadership, his business empire secured a controlling interest in the Distilleries Company of Sri Lanka PLC (DCSL), marking the largest transaction in the history of the Colombo Stock Exchange at that time. By 2007, DCSL had become a top company under Jayawardena’s visionary leadership.
Diverse Business Interests
Harry Jayawardena’s business interests were vast and varied. He held significant positions in several leading companies:
Distilleries Company of Sri Lanka: As Chairman, he oversaw the company’s growth into a dominant player in the beverage industry.
Aitken Spence PLC: Appointed to the board in April 2000, he became Chairman in April 2003, steering the conglomerate into new ventures and markets.
Lanka Milk Foods: As Chairman and Founder, he played a pivotal role in promoting dairy products in Sri Lanka.
Lanka Bell: Under his chairmanship, the company emerged as a significant player in the telecommunications sector.
His portfolio also included interests in plantations, hospitality, insurance, banking and telecommunications, reflecting his versatile business strategy.
Public Sector
Harry Jayawardena was a shrewd and ruthless businessman who understood the intersection of politics and business, leveraging the political system to expand his influence and secure strategic advantages. While he was primarily known as a private sector giant, his close connections with successive governments allowed him to hold key positions and influence decision-making in Sri Lanka’s corporate and economic landscape.Jayawardena’s business empire grew significantly during the liberalization of the Sri Lankan economy in the late 1970s under President J.R. Jayewardene. His experience at the State Trading Corporation (Consolexpo) under the socialist policies of Prime Minister Sirimavo Bandaranaike in the 1970s had already given him insights into state-controlled trade, particularly in tea exports. When the economy opened up, he capitalized on the new opportunities. Over the decades, Jayawardena maintained close relationships with key political figures, adapting his strategies to different administrations. It is said his ability to navigate the political landscape ensured that his business interests were protected and often expanded through regulatory and policy decisions that favored his enterprises.
Honors and Recognitions
In recognition of his contributions to Sri Lanka’s industry, and his efforts in turning round Sri Lankan Airlines Jayawardena was awarded the title of Deshamanaya by the President of Sri Lanka in 2005. Further cementing his international reputation, in 2010, he was appointed Knight of the Order of Dannebrog by Queen Margrethe II for his services as the Honorary Consul General for Denmark in Sri Lanka.
Jayawardana was a shrewd businessman who understood the intersection of politics and business,
Legacy of Jayawardana
Harry Jayawardena’s legacy is characterized by his transformative impact on Sri Lanka’s corporate sector. He was instrumental in elevating several Sri Lankan companies to international prominence. His leadership style, marked by strategic foresight and an unyielding drive for success, served as an inspiration for many aspiring entrepreneurs. Harry Jayawardena’s life story is a testament to the power of vision, determination, resilience, and hard action, leading to solid results . From his early days in the tea industry to building a diversified business empire, he remained committed to advancing Sri Lanka’s position in the global market. His legacy as a business legend will endure, inspiring future generations to pursue excellence and innovation.Now, it is left to his 3 children to carry on his legacy without losing their way or becoming vulnerable to competition.
LNW
