ANTAM Reshuffles Board of Directors

TEMPO.CO, Jakarta - Indonesia's state-owned mining corporation, PT Aneka Tambang (ANTAM) has announced the reshuffling of its' board of directors. The company's Shareholders General Meeting (RUPS) resulted in the appointment of Tedy Badrujaman - who had initially served as the Director of Operations - as the Chief Executive Officer (CEO) of ANTAM until 2019, replacing Tato Miraza.

The government - by proxy of the Ministry of State-owned Entreprises (SoEs), also installed three new directors - Agus Z. Jamaluddin, who had initially served as the CEO of Indonesia Chemical Alumina, Aloysius Kiik Ro, who had previously served as the Director for Danareksa, and Johan N.B. Nababan, who had serced as the Managing Director for Putra Bestari. "ANTAM's Board of Commissioners were not affected by the reshuffle," according to ANTAM's official statement, released on Tuesday, March 31, 2015.

Two other directors - Hari Widjajanto and I Made Surata - has been allowed to keep their posts within the company's structure, whereas Hendra Santika Djaja Tambunan was given the boot.

As ANTAM's new CEO, Tedy will be in charge of turning the company's fortune around - especially since ANTAM posted a loss of Rp 775.9 billion in 2014, compared its' earnings in 2013, which stood at Rp 409.94 billion.

The government is known to be heavily involved in the reshuffling of the Board of Directors in several SoEs in the past couple of weeks - including Bank Tabungan Negara (BBTN), Bank Rakyat Indonesia (BBRI), Bank Mandiri (BMRI), Bank Negara Indonesia (BBNI) and Jasa Marga (JSMR) - a move which has drawn a lot of criticism because it is alleged that strategic posts within these SoEs have been handed over to politicians, active supporters of President Joko "Jokowi" Widodo and Vice President Jusuf Kalla, as well as those who are affiliated with parties who are members of the Great Indonesia Coalition (KIH).

ANDI RUSLI | ADITYA BUDIMAN | TOMMY ARYANTO