THE Board of Directors of PNG Air Limited announced that recent Chief Financial Officer appointee, Ali A Contractor, has resigned as the Chief Financial Officer of PNG Air Limited on December 3 with effect from 5 December 2018. This was after having only just taken up that position on November 26, 2018. Mr Contractor has advised that the reason for his resignation is to allow him to take up a more lucrative position overseas which he says came up unexpectedly after he had accepted the position with PNG Air. PNG Air’s Board is disappointed with Mr Contractor’s actions but has little choice other than to accept his resignation. The Board considers there would be little benefit to the company in holding Mr Contractor to the notice period that would normally be expected from a person resigning from a professional position. The company will restart its search process to identify a suitably qualified, committed, and experienced candidate for the position. The company’s current Financial Controller, Sujeewa Samaranayake, will step into the Chief Financial Officer role in an acting capacity pending a permanent appointment to the position. Mr Samaranayake joined PNG Air in 2004 and has had held the positions of Internal Auditor, Accountant, and Chief Accountant before becoming the Financial Controller in 2012. He is an associate member of CPA Australia, a member of CPA PNG and a fellow member of the Institute of Chartered Accountants of Sri Lanka.