Erick Thohir dismissed Garuda Finance Director, Pinggalan Ari Ashkara

JAKARTA, KOMPAS.com – Minister of State-Owned Enterprises (BUMN) Erick Thohir as a representative of the government as a shareholder of PT Garuda Indonesia Tbk removed Fuad Rizal from the position of Director of Finance and Risk Management.

Fuad was the only remaining board of directors of Garuda Indonesia when the company was still led by Ari Askhara.

“Changes in the management of the company in which the Director of Finance and Risk Management of Garuda Indonesia from Pak Fuad Rizal was replaced by Pak Prasetio,” said President Director of Garuda Indonesia Irfaniaputra in a virtual press conference, Friday (20/11/2020).

Also read: Garuda Phenomenon: Loss of IDR 15 Trillion, Its Shares Soared 40 Percent

Prasetio himself is Garuda Indonesia Corporate Advisor. He also served as Finance Director at PT Merpati Nusantara Airlines.

In the banking world, Prasetio has served as Vice President of Credit Policy and Administration Group Head at PT Bank Niaga Tbk.

Then he was also an expert staff of the president director and commissioner at BNI.

He also served as Director of Perum Peruri in the 2012-2017 period.

At that time, the BUMN Minister was still held by Dahlan Iskan.

In addition to changes in the composition of the board of directors, the Garuda Indonesia Extraordinary General Meeting of Shareholders (EGM) also decided to issue an OWK (Mandatory Convertible Bond) with a total maximum of IDR 8.5 trillion.

“Shareholders’ approval for Garuda to issue OWK (Mandatory Convertible Bonds) with a total maximum of Rp 8.5 trillion with a maximum tenor of 7 years which must be converted into new shares once maturity,” said Irfan.

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