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Indonesia’s Bukalapak CEO Tenders Resignation

December 29, 2021, 07.38 PM

JAKARTA, – Indonesian e-commerce firm Bukalapak announced on Wednesday, Dec. 29 that the company’s president director Muhammad Rachmat Kaimuddin has tendered his resignation from the post.

The resignation was published on the Indonesia Stock Exchange (IDX) website following Rachmat’s resignation on Tuesday, Dec. 28. He started the position in January 2020.

“The resignation will follow the company’s articles of association as well as laws and regulations,” said Bukalapak corporate secretary Perdana A Saputro in a letter to the IDX and the Financial Services Authority (OJK) as quoted by state news agency Antara on Wednesday, Dec. 29.

Also readIndonesia’s Bukalapak Soars on First Day of Trading

Bukalapak, which is listed under the ticker symbol BUKA on IDX, provided no reason for the resignation. The company said that the resignation had no material effect on the company’s business activity and sustainability.

Previously, the company held its extraordinary general shareholders meeting (RUPSLB) on Thursday, Dec. 23. During the meeting, the shareholders approved the changes in the use of the proceeds from the initial public offering (IPO).

Bukalapak raised 21.9 trillion rupiahs ($1.5 billion) in funding following its IPO on Aug. 6, 2021, at IDX.

(Writer: Akhdi Martin Pratama | Editor: Akhdi Martin Pratama)


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