REPUBLIKA.CO.ID, JAKARTA -- PT Garuda Indonesia's President Director Emirsyah Satar will be replaced following the end of his second office term in October this year, State Enterprises Minister Dahlan Iskan revealed.
Dahlan stated here on Thursday that his office, which has been bestowed the power to run the state-owned company by its shareholders, is currently looking for the right person to replace Satar.
With regard to the requirements, he elaborated that the person concerned must have strong integrity and the requisite skills to improve the company's performance.
"He must have integrity and must not be corrupt. He should not be involved in favoritism. The new president director must also have a sound knowledge of finance because there are a lot of financial problems in Garuda," Dahlan emphasized following a state-owned company leaders' meeting.
The would-be number-one figure in the company must have full capabilities, he stressed.
Dahlan noted that his office is currently also conducting a fit and proper test on candidates.
"Emirsyah's replacement can come from inside or outside Garuda. Only those who come from outside the company will have to undergo the test," he pointed out.
Dahlan declined to divulge the names of candidates, but two names that have so far been rumored as the strongest contenders are Garuda's Marketing Director Elisa Lumbantoruan and former president director of PT Telkom Rinaldi Firmansyah.
In the first semester this year, Garuda booked a net loss of US$211.7 million up from US$10.7 million recorded in the same period last year.
The comprehensive loss that can be distributed to owners of the parent company meanwhile was at US$200.38 million, up from US$11.39 million recorded in the same period last year.
One of the causes of the loss was the exchange rate margin that soared to US$12.86 million from US$1.41 million in the first semester last year.
The company's business burden has also increased by 14.75 percent to US$1.9 billion from US$1.7 billion before.
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