President Director of Garuda Indonesia Pahala N. Mansury (left). (Photo credit: Garuda Indonesia)

JAKARTA (TheInsiderStories) – Indonesian Government through State Owned Enterprises (SOEs) has shaken up again the management of Energy producer PT Pertamina through the extraordinary shareholders meeting held today (13/09) at the ministry office.

According to our reliable sources close to the company, Finance Director of Pertamina Arief Budiman has sent his resignation today. And, his position will be filled by former chief executive of state-owned flight carrier PT Garuda Indonesia Tbk (IDX: GIAA) Pahala N. Mansyuri.

Not only replacing Budiman, government also rotated the Pertamina’ board of director compositions. Director of Mega Processing and Petrochemical Projects Heru Setiawan will replace Gigih Prakoso position as an Investment and Risk Management director.

Last week, Prakoso was appointed as a new chief executive of PT Perusahaan Gas Negara Tbk (IDX: PGAS). While, Seiawan position will be replaced by Ignatius Tallulembang, now served as a commissioner of PT Pertamina Lubricant, Unit of Pertamina.

The SOEs ministry has several times changed Pertamina’s management after  making the energy producer as a holding company for Oil & Gas sector.

Just two weeks ago, SOEs ministry assigned Nicke Widyawati to be chief executive of Pertamina at extraordinary meeting. Surprisingly, the government also appointed Indonesia’s Head of Country at British Petroleum Dharmawan Samsu as Pertamina’s upstream director. The government also appointed Kushartanto from PT Jasa Marga Tbk (IDX: JSMR) as a new human resources director.

Widyawati had been appointed as acting CEO of Pertamina on April 20, 2018. According to our sources, she is close to ruling party and the SOEs Minister Rini Soemarno. Currently, Idrus Marham’s case on coal-fired power plant (PLTU) Riau-1 shadowed her career.

Before entering Pertamina, Widyawati worked for PT Perusahaan Listrik Negara as  a Director of Corporate Planning and Director since Dec. 24, 2014 and served as its Director of Commerce, Risk Management and Compliance since 2014. PLTU Riau-1 is one project under her supervision.
Before becoming Director of Human Resources of Pertamina, she has served as Director of Business of PT Engineering Industries and Vice President of Corporate Strategy Unit of PT Rekayasa Industri.
Previously on February, 2018, the ministry changed the structure of Pertamina’s board of directors, including by dismissing the director for gas post. As a result of the structure changes, Yenni Andayana, who was Director for Gas of Pertamina prior to the shareholders meeting, was dismissed.
In addition, director for marketing is now split into two – Director for Retail Marketing and Director for Corporate Marketing. The shareholder also added new director post, namely Director for Logistic, Supply Chain and Infrastructure.
Under the oil and gas holding plan, PT Pertamina Gas, a unit of Pertamina, will be merged with gas distributor PGAS. On April 11  an approval letter was signed over the transfer of a 56.96 percent stake in state gas distributor PGAS to Pertamina.
As part of the deal, the gas distributor will acquire Pertamina’s gas producer arm Pertagas. The plan to take over PGAS by Pertamina has been floated since 2013, with the goal of creating a state-owned energy holding company that handles the management of gas infrastructure in Indonesia.
The takeover has stirred public debate and confusion among executives in both companies. However, the government proceeded with the plan, believing that it will benefit the entire nation.
Email: linda.silaen@theinsiderstories.com
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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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