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Jakarta Post

SOEs minister names new head of railway company PT KAI

  • Mardika Parama

    The Jakarta Post

Jakarta   /   Fri, May 8, 2020   /   07:05 pm
SOEs minister names new head of railway company PT KAI State-Owned Enterprises Minister Erick Thohir has replaced the president director of Indonesian railway company PT Kereta Api Indonesia (KAI) following the ministry’s plan to restructure major state companies. (Shutterstock/File)

State-Owned Enterprises Minister Erick Thohir has replaced the president director of Indonesian railway company PT Kereta Api Indonesia (KAI) following the ministry’s plan to restructure major state companies.

“Didiek Hartyanto, previously PT KAI’s financial director, has been appointed the company’s president director, continuing the previous president director’s tenure,” according to a ministerial decree issued on Friday. Didiek replaces Edi Sukmoro, who had led the company since 2014.

Meanwhile, Rivan Achmad Purwantono replaces Didiek as the company’s finance director.

Prior to his appointment as KAI finance director in February 2016, Didiek worked at state-owned Bank Mandiri as the bank’s executive vice president from February 2011 to January 2016.

Erick also appointed Jeffrie Korompis as KAI business development director, replacing Amrozi Hamidi; Magin U. Norhadi as the new commerce director replacing Dody Budiawan; and Agung Yunanto as the new human resources director replacing Ruli Adi.

The ministry introduced the restructuring program to improve profitability at state-owned companies as the increases of some of the companies’ asset growth were not proportional to their profit growth.

According to a government-commissioned joint study between McKinsey & Co. and Boston Consulting Group, of the 114 state-owned enterprises plotted by the study, only five bring added value to the country. Among the five are banks and a telecommunications company.