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Ex-Bukalapak CEO Rachmat to serve as Luhut advisor
Rachmat Kaimuddin, after stepping down as Bukalapak CEO, is to serve as special advisor to Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan on technology and sustainable development.
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Then-CEO of Bukalapak, Rachmat Kaimuddin, delivers a speech at the company's initial public offering (IPO) on Aug. 6, 2021. (Courtesy of Bukalapak)
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oordinating Maritime Affairs and Investment Minister Luhut Pandjaitan announced on Monday that the former president director of e-commerce firm Bukalapak, Rachmat Kaimuddin, would become his special advisor.
As an expert staff member, Rachmat would report to the minister and advise him on questions related to technology and sustainable development.
“This is an honor for me to help pak Luhut and the nation. I hope I can work well and contribute my ideas and energy for the good of all,” Rachmat said in a video statement published by the Office of the Coordinating Maritime Affairs and Investment Minister on Monday.
Rachmat announced his resignation from Bukalapak on Dec. 28, 2021, four months after the company debuted on the Indonesia Stock Exchange (IDX), making it the first unicorn to be listed on the bourse.
Read also: Bukalapak president director Rachmat Kaimuddin resigns
According to Bukalapak’s prospectus, Rachmat is one of 32 shareholders owning shares locked up for up to eight months. He owned 104.29 million shares, equivalent to 0.10 percent of the total shares in the company.
The company’s stock market valuation has roughly halved from the initial public offering (IPO) price of Rp 850 (5.98 US cents).
