Paradise Company Limited

Paradise Company Limited Board Chairman, Anthony Smare, made the announcement this week stating that Penrose is an experienced Papua New Guinean business leader.

Penrose becomes the first Papua New Guinean CEO of the 90-year old company, PNG’s oldest food manufacturing business.

“After an extensive, objective and diligent international CEO search process, I am pleased to announce the appointment of Michael Penrose as Group CEO for Paradise Company Limited. He was selected on merit as the best candidate by the board and the HR search firm that was used.

The Independent Consumer and Competition Commission (ICCC) recently made this announcement.

“This essentially means that, in its considerations of likely negative effects this acquisition may have on competition, the ICCC did not find any serious concerns,” stated the consumer watchdog.

“On 04th December 2020, Paradise Co lodged a clearance application seeking approval from the ICCC to proceed with acquiring Hugo.

Chairman of the Board of Directors, Anthony Smaré, recently announced the appointment.

Smaré said Paradise Company Limited had become a significantly larger diversified food business after the acquisition of Laga Industries Limited in 2018, and needed the right leader with appropriate leadership traits to develop and lead the team of the diversified organisation as it continued to grow.