GOTO's May 2023 Shareholder Composition: Implications of Planned Board Restructuring

GoTo Gojek Tokopedia Tbk will restructure its board of directors on June 30, 2023. The management changes were decided in the Annual and Extraordinary General Meeting of Shareholders (RUPST and RUPSLB).

According to *Katadata*, the technology company with the stock code GOTO will nominate Patrick Sugito Walujo as the new president director or CEO, replacing Andre Soelistyo. This change will be effective after receiving shareholder approval.

In addition to Patrick Walujo, other appointments include Thomas Husted as GOTO's COO, and Agus Martowardojo as the new president commissioner, replacing Garibaldi Thohir.

Andre Soelistyo will be transitioning to the position of commissioner.

"Andre Soelistyo has resigned from his position as president director," GoTo management wrote in an official statement on Thursday (June 8).

(See also: GoTo's Revenue Increased in Q1 2023, Losses Decreased by 40%)

Andre will reportedly oversee and provide strategic direction to management towards achieving a positive adjusted EBITDA by the end of the year and sustainable long-term growth.

Andre's name is included in the list of controlling shareholders (P) in GOTO.

In the May 2023 update from the RTI Business application, Andre Soelistyo is listed as holding two blocks of shares: 6.73 billion shares and 3.24 billion shares.

Other directors listed as holding GOTO shares include William Tanuwijaya, founder and CEO of Tokopedia, with 12.58 billion shares and 8.39 billion shares.

Kevin Bryan Aluwi, who has resigned from his position as commissioner, holds 5.75 billion shares and 3.27 billion shares.

Melissa Siska Juminto holds nearly 4 billion shares and 1.08 billion shares.

The restructuring of GOTO's board of directors is expected to have a positive sentiment on the company's performance and strengthen GOTO's integration with the digital bank PT Bank Jago Tbk (ARTO).

The following is the composition of GOTO shareholders as of May 2023:

* Public: 830,223,511,231 shares
* Taobao China Holding: 104,731,124,993 shares
* SVF GT Subco Singapore: 91,559,809,028 shares
* Goto Peopleverse Fund: 75,611,782,147 shares
* PT Saham Anak Bangsa: 26,888,988,841 shares
* William Tanuwijaya (P): 12,588,634,432 shares
* William Tanuwijaya (P): 8,393,044,541 shares
* Andre Soelistyo (P): 6,734,025,100 shares
* Kevin Bryan Aluwi (P): 5,757,373,535 shares
* Melissa Siska Juminto (P): 3,993,358,227 shares
* Kevin Bryan Aluwi (P): 3,272,789,432 shares
* Andre Soelistyo (P): 3,247,530,184 shares
* Melissa Siska Juminto (P): 1,087,292,195 shares
* Treasury shares: 10,264,665,616 shares
* Total: 1,184,363,929,502 shares

(See also: GoTo's Losses Increased in 2022, Exceeding Losses of Grab and Sea Ltd)