Draga Cukjati appointed as CFO of PENNY Romania

PENNY Romania announces the appointment of Draga Cukjati as Chief Financial Officer, starting March 2025. She succeeds Raffaele Balestra, who has held the CFO position for the past five years.

Draga Cukjati joined REWE International AG in September 2023, and was appointed Senior Financial Advisor for BILLA CEE and PENNY in February 2024. In this role, she has significantly impacted various strategic initiatives of the group, including cost, working, and real estate management. Before joining REWE International, she held leadership positions in the financial sector in Croatia and Slovenia, most recently serving as CFO of Mercator, the largest retailer in Slovenia.

In her new role of CFO of PENNY Romania, Draga Cukjati will oversee the departments of Controlling, Accounting, Human Resources, Legal and Compliance, IT, and MPDA.

“I am honored to join PENNY Romania as CFO. In my new role, I aim to support the company’s medium- and long-term development plans, thereby contributing to the growth of the retail sector and enhancing the experience of PENNY customers in the local market. It is an honor to be part of such a strong and cohesive team, like the one in Romania”, stated Draga Cukjati, the new CFO of PENNY Romania.

Starting, March 1, 2025, Raffaele Balestra will return to PENNY Italy as a board member, eventually assuming CFO duties after a transition period. He joined PENNY Italy in July 2011 and served as Director of Financing and Accounting from 2013 until 2020, when he joined the PENNY Romania team as CFO.

“I am grateful for the wonderful experience I had at PENNY Romania, for the fantastic team I had the chance to work with, and for the opportunity to contribute to strengthening PENNY’s position in Romania. I thank the entire PENNY Romania management team and all colleagues for their daily involvement and determination, continually demonstrating that only by working together as a team can remarkable achievements be reached. Assuming the role of CFO at PENNY Italy is an honor, but it’s also a challenge. I also want to thank the REWE International Board for the trust placed in me with this new opportunity to contribute to PENNY’s success in my home country, Italy”, declared Raffaele Balestra.