1. Startups

Andre Soelistyo Resigns; GoTo Buyback Shares Worth IDR 3,2 Trillion

Andre, who owns 0,78% of GoTo shares, previously served as CEO of GoTo Group until June 2023

PT GoTo Gojek Tokopedia Tbk (GOTO) announced two important steps at the Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) which will be held on June 11 2024.

First, the company will do share buyback (buyback)worth Rp. 3,2 trillion or the equivalent of US$ 200 million. buy back This will be done in stages over a period of 12 months after the EGMS.

Apart from that, GoTo will also reshuffle the ranks of commissioners and directors. GoTo Co-Founder Andre Soelistyo submitted his resignation from his position as commissioner. Andre's resignation letter was received by the company on May 17 2024. Andre, who owns 0,78 percent of GoTo shares, previously served as CEO GoTo Group until June 2023.

In this management change, John A. Prasetio was proposed as the new independent commissioner to replace Robert Holmes Swan. The company will also propose to reappoint Dirk Van den Berghe as independent commissioner, as well as Garibaldi Thohir and Wishnutama Kusubandio as commissioners.

According to Corporate Secretary RA Koesoemohadiani, Andre's resignation will not have a negative impact on the company's operational activities, legal conditions, finances and business continuity. This change in management is expected to strengthen the company structure and support long-term growth.

Andre Soelistyo, together with Kevin Aluwi, became Co-CEOs Gojek in October 2019 after Nadiem Makarim resigned to become Minister of Education, Culture, Research and Technology. Under his leadership, Gojek joined Tokopedia on May 17 2021, forming the business entity PT GoTo Gojek Tokopedia Tbk, making the company one of the leading business entities in Indonesia.

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Disclosure: This article was produced with AI technology and supervision of the content writer
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