Ceylon Tobacco Company PLC (CTC) has appointed Sarmad Abbasi as Managing Director and Chief Executive Officer with effect from 1 May 2026. He succeeds Fariyha Subhani, who has held the role since April 2024.
Abbasi is a 15-year veteran of British American Tobacco (BAT), the multinational that controls CTC. He most recently served as General Manager for BAT in Iraq, where the company said he steered the business through “complex geopolitical landscapes”. Earlier postings include Regional Manager for Pakistan and Head of Brands, where he led business transformation and distributor consolidation.
“I am excited to lead the already exceptional Sri Lankan team to achieve greater heights and also to learn from the local experiences to be shared with the wider BAT world,” Abbasi said in a statement carried by Daily FT. “The journey ahead will be built on our existing strong foundations of sustainability and excellence and most importantly our incredible people.”
Abbasi holds an MBA from the Lahore University of Management Sciences and a degree in Computer Science.
Listed on the Colombo Stock Exchange, CTC is one of the largest contributors to government revenue in Sri Lanka through tobacco excise. The leadership change comes amid sustained government health-policy pressure on tobacco — the Institute of Policy Studies recently estimated that tobacco use contributes to roughly 12,300 deaths a year in Sri Lanka.
