Ghoida Rahmah, Jakarta – Indonesia's Ministry of State-Owned Enterprises has decided to reform the board structure of state-owned pharmaceutical company PT Kimia Farma (Persero) Tbk (IDX: KAEF). At the 2023 Annual General Meeting of Shareholders (AGMS), the position of President Director, previously held by David Utama, has been replaced by Djagad Prakasa Dwialam.

David took over the leadership of the company in May 2022. Djagad previously worked at Kimia Farma's subsidiary as President Director of Kimia Farma Trading & Distributions.

In addition to the position of President Director, there was also a change in the position of Human Resources Director from Dharma Syahputra to Disril Revolin Putra.

Djagad Prakasa Dwialam said that this decision came entirely from the government, in this case the Ministry of BUMN as the controlling shareholder of the company. "Today's change of shareholders can happen at any time, this is a normal thing and the aim is to improve the company's performance," he said in a press conference on Tuesday evening, June 25, at the ILHI Bio Farma Group Building in Cipinang, East Jakarta.

Djagad said he received a mandate from shareholders to transform the performance of the company, which is currently experiencing losses. In 2023, Kimia Farma recorded its largest loss for the first time, amounting to Rp1.8 trillion.

"Our priority, of course, is to return Kimia Farma's financial position as a group to a positive direction," he said.

Shareholders decided that the four other directors will stay in their respective positions, namely Lina Sari as director of finance and risk management, Hadi Kardoko as director of production and supply chain, Chairani Harahap as commercial director, and Jasmine Kamiasti Karsono as director of portfolio, products and services.

Source: https://en.tempo.co/read/1884287/indonesias-soe-ministry-replaces-kimia-farma-president-director