No contract renewal for CPL CEO

CITY Pharmacy Limited’s (CPL) Navin Raju will not be renewing his contract as chief executive officer (CEO) and will ensure a smooth transition until end of next month.
“The past few years have been incredibly challenging, with the global pandemic and local issues like supply chain disruptions putting a strain on everyone.
“While we’ve navigated these obstacles effectively as a team, the Jan 10 incident was particularly demanding,” Raju said. “The constant pressure has become overwhelming, and I’ve decided to pursue new opportunities and spend more time with family.”
Raju was appointed as CPL Group CEO in Oct 2020 after working as the chief operating officer and previously as Hardware Haus Limited CEO.
“I’m looking forward to exploring some new ventures after a well-deserved break,” Raju said.
“PNG has become a special place for me, and I have no plans to leave soon.”
CPL chairman Stan Joyce yesterday said Raju had informed of his decision to pursue interests outside of CPL.
“Raju’s last day of employment will be June 24.”
“Interim reporting announcements will be made in due course.
The board thanks Navin for his contributions to CPL over the past five-and-a-half years and wishes him well in his future.”
CPL was one of the business houses in Port Moresby that suffered great loss during the Jan 10 civil unrest where almost all of its branches were looted, including the complete burning down of Stop and Shop Rainbow and North Waigani, as well as the Hardware Haus and partly destroyed Stop and Shop Badili.
The total cost of damages to CPL was over K80 million.