In this exclusive interview, Global CEO Magazine sits down with Mr Gayan Wellala, CEO of Bio Foods Private Limited.
With over 19 years of experience spanning manufacturing, exports, hospitality, auditing, and banking, Gayan Wellala is recognised as a visionary leader in sustainable business practices. Under his guidance, Bio Foods has upheld its dedication to producing organic and fair-trade products and has continued to support a network of over 10,000 farmers, ensuring stability for smallholder communities.
Gayan shares insights into Bio Foods’ mission, values, and unique approach, detailing the company’s commitment to sustainability and ethical business practices. Additionally, he offers a behind-the-scenes look at how Bio Foods has managed significant challenges, from financial crises to talent retention, all while maintaining its steadfast commitment to high-quality standards and innovation.
Join us as Mr Wellala discusses the company’s journey and future goals in the face of an ever-evolving industry landscape.
Q: Can you provide a brief introduction to your company, including its mission, core values, and the primary industry in which it operates?
A: Bio Foods Private Limited was established in 1993 by Dr. Ranaweera, a food scientist, who led the way for us to win the world’s first Fairtrade Award. Our company focuses on processing and exporting organic and Fairtrade products. We’ve been recognised globally, including the prestigious European Sustainability Award and the Asia-based Small Farm Organisation Award. Our Mission is to establish ever higher standards of organic and fair-trade production through the team effort of our primary producers and members of the Bio Foods family. Notably, our founder introduced a minimum guaranteed price mechanism over three decades ago to support our farmers, ensuring they have a stable income even in agriculture. We prioritse sustainability in all our actions, hold integrity in high regard, and are committed to respecting and caring for every part of society.
Q: Could you elaborate on the challenges your organisation has faced in turbulent times and how you navigated through them? Can you provide an example of a significant crisis?
A: Like many organisations in Sri Lanka, we have faced various issues, with financial crises being at the forefront. Sri Lanka is a resilient nation, and Bio Foods has demonstrated this resilience. Financial crises have pushed many skilled team members to migrate, challenging our core strength of pool of experts in food science and technologies. Despite these challenges, we remain steadfast in our commitment to quality. For over three decades, our priority has been to maintain the highest standards in organic and Fairtrade products. We have weathered turbulent times by upholding transparency and communication. For instance, during financial challenges, we never compromised on our team member benefits or farmer support. By standing by our team members and farmers, we have been able to maintain client loyalty, which is crucial for navigating through difficult periods.
Q: Resilience is clearly at the heart of Bio Foods. How do you balance short-term decision-making without compromising long-term strategic goals?
A: Short-term decisions should always align with long-term objectives. If short-term actions don’t support our long-term goals, then we’re likely setting ourselves up for challenges down the road. We act quickly but with a clear vision of where we want to be. Sometimes, this means making sacrifices in the present to protect the company’s future direction. Balancing these two perspectives is essential for sustainable growth.
Q: What role does innovation play in your organisation’s growth strategy, especially during challenging times? How do you foster a culture of innovation?
A: Innovation is one of our three core pillars, along with traceability and sustainability. Our founder has always championed innovation, and Bio Foods has led the organic industry in Sri Lanka for over 30 years. Innovation is what has kept us going; we are constantly seeking ways to improve and grow, New ideas are encouraged at every level, from strategic leadership to our frontline team members. Our Research & Development team works on aligning new ideas generated at all levels, fostering innovative outcomes. We’re currently working on a few innovative projects that we hope will gain attention locally and globally. Innovation truly defines Bio Foods’ DNA.
Q: How do you attract, retain, and develop top talent, particularly in a competitive and uncertain environment?
A: Bio Foods has long served as a training ground for talent in the organic industry, both locally and internationally. We work with universities and learning institutions, offering internships and a structured management training programme. We believe it’s our duty to cultivate young talent under the close supervision of qualified industry specialists inside the company. Our team members stay loyal because they know the company stands by them. Even during turbulent times, we have maintained a stable and supportive work environment. fascinatingly, we have a high percentage of female employees – over 50% of our workforce is female – which reflects our commitment to inclusivity and a respectful workplace.
Q: How do you balance cost efficiency with the need to invest in growth and innovation?
A: With my background in finance, I understand that cost efficiency often comes from fostering new ideas rather than cutting corners. Innovation is key to our efficiency. We encourage fresh ideas at all organisational levels, and we ensure that everyone feels empowered to contribute. Cost efficiencies arise when there is a constant influx of new initiatives and improvements.
Q: What qualities do you think future CEOs will need to lead effectively in a fast-changing world?
A: Besides the traditional qualities, I believe financial literacy has become a non-negotiable skill for CEOs. Being able to understand and interpret financial data enables leaders to predict the future and plan effectively. Furthermore, decisiveness is vital. In our fast-paced world, delaying decisions can invite challenges. A CEO should inspire, guide, and cultivate an environment where team members feel valued, engaged, and motivated to contribute to the organization’s success. CEOs should also focus on continuous learning, staying updated with new developments, and fostering a culture of knowledge. Optimism and resilience are crucial, as is building mutual trust within the organisation. Trust is key – it’s about being able to rely on your team even in the face of uncertainty. A leader must foster this trust to create a positive and resilient organisational culture blended with genuine care and humanity.
Global CEO Magazine: Thank you, Mr Wellala, for your valuable insights and for sharing the inspiring story of Bio Foods Private Limited
