Doha & Jakarta, June 11, 2009 – Qatar Telecom (Qtel) Q.S.C. (“Qtel”) is delighted to announce that His Excellency Sheikh Abdullah Bin Saud Al-Thani, Group Chairman of Qtel, has been re-appointed as President Commissioner of PT Indosat Tbk (“Indosat”) at the latter’s Annual General Meeting (“AGM”), during which Indosat shareholders also approved a significant management restructuring, specifically to the Board of Directors (“BOD”).
Two other Qtel representatives were also re-appointed to Indosat’s Board of Commissioners (“BOC”). They are Dr Nasser Marafih (CEO, Qtel), and Mr Rachmat Gobel (Qtel’s local partner in Indonesia). Mr Richard F. Seney (COO Qtel International) joined Indosat as a new member on the BOC.
The appointments were part of the agenda approved today by Indosat shareholders, at the company’s AGM held in Jakarta. In summary, approved agenda items were:
- Indosat’s latest annual report and financial statement (for FY 2008)
- Allocations of the 2008 net profit, including 1% (Rp18.78 billion) for reserve funds and dividends of Rp172.85 per share, the latter to be paid in full on July 22, 2009. The remaining amount will allocated for re-investment and working capital
- Total remuneration of Rp28,487,500,00 for the ten-member BOC
- The appointment of public accounting firm Purwantono, Sarwoko & Sandjaja, a member of Ernst & Young Global, as the Company’s Independent Auditor for FY 2009
- Changes to the composition of the BOC as well as the structure and composition of the BOD.
An Extraordinary General Meeting (“EGM”) was also held during which shareholders approved amendments to the Company’s Articles of Association that would strengthen good corporate governance.
Commenting, Sheikh Abdullah said: “I am honoured and delighted to be reappointed as Indosat’s President Commissioner. The reappointment of three Qtel representatives and the appointment of a new fourth Qtel representative highlight our commitment to the long-term success of Indosat. Together, the extensive industry experience of Qtel representatives, combined with the experience and local know-how of the other BOC members and directors, will help shape Indosat’s future growth.”
As a result of the AGM, Indosat’s latest Board of Commissioners is as follows:
Board of Commissioners
i.H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al Thani as President Commissioner
ii.Dr Nasser Marafih as Commissioner
iii.Mr Richard F. Seney as Commissioner
iv.Mr Rachmat Gobel as Commissioner
v.Mr Rionald Silaban as Commissioner
vi.Mr Jarman as Commissioner
vii.Mr Soeprapto as Independent Commissioner
viii.Mr Setyanto P. Santosa as Independent Commissioner
ix.Mr Michael F. Latimer as Independent Commissioner
x.Mr George Thia Peng Heok as Independent Commissioner
In addition to the changes to the BOC membership, Indosat’s Board of Directors (BOD) will undergo structural changes approved by shareholders yesterday. After careful consideration and consultation with all relevant stakeholders, Indosat will streamline its BOD from nine to five positions, bringing the company’s senior management structure more closely in line with world-class standards among its global peers. The changes are aimed at helping Indosat become more nimble and to adapt more rapidly to customers’ needs, ultimately making it a sharper and stronger competitor in Indonesia.
Three new members were also appointed to the BOD and they are: Mr Harry Sasongko Tirtotjondro, Mr Peter Kuncewicz and Mr Steve Hobbs.
Mr Sasongko joins Indosat from GE Money Indonesia, where he has served as President Director and CEO since February 2005. A veteran in consumer banking and marketing, he began his finance career with Panin Bank and was subsequently appointed to senior roles at Citibank, Bank Tiara Asia and Lippo Group.
Mr Kuncewicz joins Indosat from Telenor Pakistan, where he has been Chief Financial Officer (CFO) since 2006. He has over 30 years’ experience in finance across multiple international markets, 10 of them in the telecoms sector. He was previously CFO of Star Foods SA (1998-2006) and Finance Director at United Biscuits Poland (1996-1997). He is a member of the United Kingdom Chartered Institute of Management Accountants.
Mr Hobbs has over three decades of international management experience in the telecommunications and technology industries across Europe and Asia. He spent over 20 years with Cable & Wireless (C&W) in various positions, including Chief Engineer C&W Mobile, CTO Asia, CTO Global Mobile, and finally Vice President Mobile and ASP services (C&W Global) before leaving in 2001 to set up an independent consulting practice.
During this time of transition, Mr Johnny Swandi Sjam will remain as the interim President Director of Indosat until August 2009. Mr Sasongko will replace Mr Johnny Swandi Sjam as President Director on the same date.
As a result of the changes announced and approved, Indosat’s new Board of Directors is as follows:
i.Mr Harry Sasongko Tirtotjondro as President Director from August 2009
ii.Mr Peter Kuncewicz as Director from September 2009
iii.Mr Steve Hobbs as Director
iv.Mr Fadzri Sentosa as Director
v.Dr Kaizad Bomi Herjee as Director
H.E. Sheikh Abdullah Bin Saud Al-Thani, said: “We are confident that our new Board of Directors has the optimal blend of local and international knowledge and skills. Their mix of fresh views and continuity will also drive Indosat to further improve services for its customers. At the same time, I want to emphasize that Indosat is entirely committed to training and recruiting top Indonesian talent in the coming years.”
Shareholders at the AGM and EGM expressed their gratitude and appreciation to outgoing members of both Boards for their dedication and years of excellent service to Indosat. Leaving the BOC is Sheikh Mohamed Bin Suhaim Hamad Al Thani, while outgoing Directors are: Mr Wong Heang Tuck, Mr Wahyu Wijayadi, Mr Guntur S. Siboro, Mr Raymond Tan Kim Meng, Mr Syakieb Ahmad Sungkar and Mr Roy Kannan.
