Chi Limited In Massive Trouble As MD, Roy Deepanjan Mis-Managed N19.6billion


These are unprecedented times at Chi Limited, makers of fast-moving consumer goods, including Chivita Fruit Juice, where the outgoing Managing Director, Roy Deepanjan, has been accused of mismanaging allowances meant for staff welfare.


Members of staff were seen blocking Roy in the factory as he was on his way to his office and ordering him to come address staff at the congress holding on the ground floor.


Roy was initially hesitant, as he tried directing staff to a certain ‘Amaka’, a Human Resource official, but the staff remained relentless in their demand. They stood their ground and said they would not leave unless he acceded to their request. Roy succumbed, eventually.


“We want our MD to give us our productivity bonus before he goes,” a member of staff was heard saying in the video. “The payment of our HMO has been denied us from what we are supposed to be receiving. All this money, we want them now, before you leave.”

In an announcement by Coca-Cola Africa OU President, Bruno Pietracci, to the staff of Chi Limited, Roy was thanked “for his leadership and commitment from the moment he first joined Chi in 2009”.

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“During his nine years as MD, Roy built a successful team, managed the transition into the Coca-Cola system while winning in the market. Under his leadership, the system grew more resilient and the culture of ownership and can-do-attitude prevailed,” read a part of the statement.

“Roy, who spent a significant period at Chi and more recently as part of the Coca-Cola system, is planning to venture into the world of start-ups, which is best suited to his passion and skill set.”

However, contrary to the claims by the President of Coca-Cola Africa sources a Chi that due to recent revelations on Roy’s role in how about N19.6billion meant for staff welfare was mismanaged, the company decided to let him go.

Roy’s tenure at Chi comes to an end this July, with Eelco Weber set to take over. In the interim, Sanjeev Kumar has been appointed to direct the company’s affairs.

Efforts to reach the management of Chi proved abortive, as official lines of the company were switched off as of the time of filing this report.

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In the meantime, the staff revolt is yielding results, as the company, for the first time in a long while, went on Sallah Break, which wouldn’t have happened during the tenure of Roy

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