Entering New Chapter, Founder-to-Professional Succession Strengthens GOTO Governance

Changes in organizational structure along with the addition of professionals are proof that PT GoTo Gojek Tokopedia Tbk (GOTO) is ending its status as a “startup”. The next phase is the realization as a corporation with good governance as large companies in general.

The Technology Sector Observer in Asia, Joel Shen, likens GOTO to closing one chapter and starting another. “As companies grow, their management teams also grow, and at some point, the people who started the startup from zero to one, will pass the baton to the successor who is tasked with taking the business from one to 100,” he said in a post published via his personal LinkedIn social media account on Monday (13/02/2023).

Therefore, Joel leads the Withers Tech Asia team and is based out of Singapore, with particular experience in Indonesia, appreciates the plan to realize GOTO’s latest structure. This includes the downsizing of the group into three different business lines, namely On-Demand, e-Commerce, and Financial Technology. “Each line with its own president (Catherine Hindra Sutjahyo, Hans Patuwo, and Melissa Siska Juminto).”

Joel also believes that the composition of GOTO's Board of Commissioners and Board of Directors after the Extraordinary General Meeting of Shareholders (EGMS) on March 2, 2023 is the ideal formation.

“Including former Minister of Finance and Governor of the Central Bank (Bank Indonesia), Agus Martowardojo; co-founder and managing partner of the Northstar Group, Patrick Walujo; former CFO of the LEGO Group, Marjorie Lao; and general counsel of the GoTo group, Pablo Malay, who all bring impressive credentials and are expected to improve corporate governance,” Joel said.

Joel hopes that GOTO will be able to move more agilely and grow further with the new structure and lineup of individuals at the helm of the company. “All the best to GoTo's new management team. May you take the business from strength to strength,” he said.

As is known, a number of big names are included in the candidates for the GOTO Board of Commissioners. Among them are Agus D.W Martowardojo, Marjorie Lao, Patrick S. Walujo, and Winato Kartono. They will assist the President Commissioner, Garibaldi Thohir, and Commissioner William Tanuwijaya, who will focus more on his role in this position.

The Board of Directors was also strengthened by proposing two names that are competent in their respective fields, namely Pablo Malay and Nila Marita. GOTO also added the position of president in its organizational structure to lead each business unit or line.