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View all search resultsINA sees fresh leadership exit as investment chief resigns
INA CEO Ridha Wirakusumah completed his term on Feb. 15, and a successor has yet to be appointed, while chief risk officer Thomas Oentoro left last October to join national flag carrier Garuda Indonesia.
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Indonesia Investment Authority (INA) former Deputy CEO Arief Budiman (right), accompanied by former investment managing director Andry Setiawan, speaks on Feb. 1, 2023, with The Jakarta Post in Jakarta. (JP/Fadhil Haidar Sulaeman)
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ndonesia Investment Authority (INA) chief investment officer Andry Setiawan has resigned, Bloomberg reported on Wednesday, citing anonymous sources, marking the latest leadership change at the country’s sovereign wealth fund.
Andry, one of two chief investment officers (CIOs) appointed in June last year, stepped down earlier this month and is currently serving his notice period, the report said.
INA representative declined to comment on the report when contacted by The Jakarta Post.
Andry’s exit leaves only two of INA’s five board of directors positions filled on a permanent basis. INA CEO Ridha Wirakusumah completed his term on Feb. 15, and a successor has yet to be appointed. The chief risk officer role has also been vacant since Thomas Oentoro left in October to join national flag carrier Garuda Indonesia.
INA chief financial officer Eddy Porwanto is currently serving as acting chief revenue officer and acting CEO, while the other CIO, Christopher Ganis, remains in his role.
Read also: INA hits Rp 65t in total investments in May
Established in December 2020 under the Job Creation Law, INA was set up to attract foreign capital into Southeast Asia’s largest economy through direct co-investment partnerships and a range of financing instruments, including private credit.
