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PTPP Rombak Susunan Pengurus Anak Usaha
09 October 2020

PTPP Reorganize Subsidiary Management Composition

PT PP (Persero) Tbk (“PTPP”) has carried out an reorganize of the management of its subsidiary. Meanwhile, the reorganization of the management of the subsidiary was carried out in advance at PT PP Properti Tbk ("PPRO") and PT PP Presisi Tbk ("PPRE"). The changes were made in the PPRO and PPRE Extraordinary General Meeting of Shareholders ("Extraordinary GMS") which was held on Thursday (08/10) at the Wisma Subiyanto Auditorium, Jakarta. The Extraordinary GMS was held by implementing a very strict Covid-19 health protocol and a limitation on the number of participants in the meeting room.

In the implementation of the Extraordinary GMS, there are 2 (two) Agenda that require Shareholders' approval, namely Amendments to the Articles of Association and Changes in Management Composition. PTPP has reshuffled the ranks of the Board of Commissioners and Directors of PPRO and PPRE where this change is expected to improve the performance of the two subsidiaries.

PTPP has appointed several younger generations to hold positions as Directors in the two subsidiaries. PTPP is optimistic that the overhaul of the management composition in PPRO and PPRE can support PTPP's strategic program as the holding company of the two subsidiaries.

The change in the composition of the management at PPRO and PPRE is PTPP's strategy to optimize the company's long-term performance and strengthen PTPP's position as one of the leading construction and investment companies in Indonesia. In addition, PTPP is also preparing a new business transformation stage as one of the company's steps to increase added value in the eyes of stakeholders.