Qatar Telecom (Qtel) Q.S.C. (“Qtel” or “Qtel Group”) (Ticker: QTEL.QA) announces the following management changes at Qtel Group company, PT Indosat Tbk (“Indosat”) following an Extraordinary General Meeting (“EGM”) held today at Indosat’s offices in Jakarta. Mr. Harry Sasongko Tirtotjondro is to be replaced as President Director and CEO by Mr. Alexander Rusli on 1 November 2012.
Mr. Rusli has served as an Independent Commissioner on Indosat’s Board of Commissioners (“BOC”) since January 2010 and currently serves as member of the Remuneration Committee and Audit Committee. Mr. Rusli is also a Commissioner of PT TuguPratama Indonesia. Most recently a Managing Director at Northstar Pacific, a Private Equity fund which focuses on Indonesian opportunities, he was formerly an Independent Commissioner of PT Krakatau Steel (Persero), the 100% state-owned company that produces carbon-steel productsand Expert Advisor to the Minister for State-Owned Enterprises, with oversight of 140 State-Owned Enterprises and more than 500 subsidiaries. Mr. Rusli was also Expert Advisor to the Minister of Communications and Information Technology, where he was involved in the formulation of policy and regulation in the Telecommunications, Media and Postal industries. His wealth of experience in both the public and private sectors in Indonesia will be invaluable to Indosat as the company enters a new stage of its development.
Mr. Harry Sasongko Tirtotjondro has served as President Director and CEO of Indosat since August 2009. In this time, he has successfully navigated the Company through intense market competition and has been instrumental in driving through a number of key initiatives, which have transformed the structure of the company and positioned it strongly for sustainable commercial growth. As a result of his leadership, the company has effectively improved its financial profile, successfully monetised non-core assets and repositioned the company for sustainable growth. Mr. Sasongko will remain as President Director and CEO until 1 November, 2012 when Mr. Rusli will formerly assume the position.
In addition to this management change, the Board of Commissioner’s is delighted to welcome Mr. Rudiantara, who is replacing Mr. Rusli as Independent Commissioner. The only other change is that Mr. Richard Farnsworth Seney’s status has now changed to that of an Independent Commissioner.
His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the Qtel Group and President of Indosat’s Board of Commissioners said:
“Indosat has experienced a number of challenges over the last three years andwe are sincerely grateful for Mr. Sasongko’s leadership in ensuring that the company has overcome these. The business now has the necessary structure and platform in place to effectively and efficiently deliver its value proposition to its customer base. We wish Mr. Sasongko every success for the future.
We are pleased welcome Mr. Rusli in his new role of President Director and CEO. Mr. Rusli’s breadth of experience and existing knowledge of the company will help ensure the ongoing success of the business as it enters the next phase of its development. We wish him every success. In addition, the BOC is delighted to welcome Mr. Rudiantara as an Independent Commissioner and look forward to working with him closely.”
