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Jakarta Post

Garuda's shareholders appoint new finance director in latest shake-up

  • Mardika Parama

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, November 20, 2020   /  05:08 pm
The Jakarta Post Image
A Garuda Indonesia airplane soars into a blue sky.(Shutterstock.com/e X p o s e)

National flag carrier Garuda Indonesia’s shareholders have appointed a new finance director amid the airline’s financial struggle and low demand during the pandemic. The airline, in which the state has a majority stake, appointed Prasetio as the new finance director, to replace Fuad Rizal. Garuda president director Irfan Setiaputra told reporters on Friday after an extraordinary general shareholders meeting that the decision was a “routine” event. He said he hoped the new financial director could expedite the airline’s ongoing restructuring, negotiation and financial management process. Read also: House approves Rp 8.5t in convertible bond for ailing Garuda “This management change is nothing but a usual tour of duty. Pak Prasetio has commendable experience as a banker and a strong legal background,” he said. After ...