Banerjee: In control

Calcutta, May 24: The RP Goenka group has decided to shift the headquarters of RPG Retail from Chennai to Calcutta in this financial year.

The CEO, who will be appointed to head the retail business, will also function from Calcutta. Raghu Pillai, who has quit the RPG retail business as president and chief executive, was stationed in Chennai.

Sumantra Banerjee, managing director of CESC and currently heading the retail business of the group, told The Telegraph, “The corporate office of RPG retail will be gradually shifted from Chennai to Calcutta. The entire exercise will take a year.”

Explaining the rationale behind shifting the corporate headquarters from Chennai to Calcutta, Banerjee said it is being done to expedite decision-making.

“RPG retail is poised to take off in a big way. This needs a lot of planning. As RPG Enterprises vice-chairman Sanjiv Goenka is based in Calcutta, it will be easier to take decisions and facilitate proper co-ordination,” Banerjee added

Initially, the corporate office of Musicworld will be shifted to Calcutta. “It will take six months to shift the headquarters of Musicworld,” he added.

The other retail businesses, which include food, hypermarkets and health, will be shifted in the current financial year.

Nearly 40-50 officials of RPG retail business, who are currently based in Chennai, will be shifted to Calcutta.

Initially, their office will be at Duncan House on Netaji Subhas Road near Dalhousie. The group is open to the idea of taking office space in Calcutta, if the need be.

The group is also weighing options to lease out the 8,000-square-ft building belonging to RPG Retail in Chennai following the shifting of personnel. The building belongs to Spencers ? a retail business outfit of the RPG group.

The group also plans to garner funds to grow its retail business. It has plans to come up with an initial public offering. However, it has not decided on the date of the issue.