JAKARTA (TheInsiderStories) – PT Indosat Ooredoo Tbk (IDX: ISAT) announced the resignation of President Director Alexander Rusli from Indonesia’s second-biggest telco company on Tuesday, Sept. 26. It said, the approval of shareholders on his resignation will be done in Oct. 31.
‘We have received a notification from our President Director and CEO that he has decided not to continue his tenure in Indosat Ooredoo,’ said Commissioner Waleed Mohamed Ebrahim Al-Sayed in a press statement.
Rusli joined Indosat Ooredoo in January 2010 as an Independent Commissioner and was appointed President Director and CEO in November 2012. Under his leadership, in 2013 Indosat commercialized its 3G network on a frequency band of 900 MHz.
A year later, Indosat launched and commercialized 4G services in major Indonesian cities at 900 MHz, with speeds of up to 42 mega bites. And in 2015, Indosat officially rebranded itself as ‘Indosat Ooredoo’ after Qatari, a telecommunications company at the time known as ‘Qtel’, acquired 65 percent of Indosat’s shares.
‘Mr. Rusli has led Indosat Ooredoo through a transformation process that generates significant revenue growth and positive net profit as a result of high consumer growth. I thank Mr. Rusli for his invaluable contribution to Indosat Ooredoo and wish him the best for his future success,’ Al-Sayed added.
Rusli, 45, was a Managing Director in Northstar Pacific, a private equity fund which focuses on Indonesian and Southeast Asian opportunities. Prior to his role in Northstar Pacific, He served the Government of Indonesia for nine years.
In his first six years in government, he was an Expert Advisor to the Minister of Communications and Information Technology, where he was involved in the formulation of policy and regulation in the Telecommunication, Media and Postal industries. In his last three years in government services, he was an Expert Staff to the Minister of State-Owned Enterprises, overseeing approximately 140 state-owned enterprises with more than 500 subsidiaries.
During that period, he also held various positions at certain state-owned companies including serving as commissioner of PT Krakatau Steel Tbk, a steel producer, PT Geodipa Energi, a geothermal company and PT Kertas Kraft Aceh, a paper manufacturer.
Prior to his posts in the Government, Rusli was Principal Consultant for PricewaterhouseCoopers Management Consulting in Indonesia. He completed all his formal tertiary education in Curtin University, Western Australia. He holds a Doctor of Philosophy degree in Information Systems.
For the first half this year, Indosat Ooredoo booked strong revenue and profit enhancement of 83.2 percent, compared to the same period last year, when it only took in Rp784.2 billion.
Responding to tight competition in the telco market, Indosat Ooredoo offers marketing programs that suit the needs of young consumers. The number of cellular users in the first semester of this year reached almost 97 million users, up from last year, when only 15.9 million users were reported.
The company has built an additional 5,690 Base Transceiver Station (BTS) units in the past year, around 92 percent of which are 3G BTS and 4G BTS, to support a fast-growing data segment.
Writing by Elisa Valenta, Email: email@example.com