Cholil joined Bakrie & Brothers

Cholil Hasan, ex-chief financial officer (CFO) of PT Semen Gresik Tbk [stock code: SMGR], join PT Bakrie & Brothers Tbk [BNBR] starting yesterday. He told the press about the new position at the holding company. “As of yesterday, May 16, 2011, I have formally joined Bakrie & Brothers. I’ve been appointed as the group’s executive vice president in charge of the group strategic business development (reporting to CEO),” he says in a short message, this afternoon.

Cholil, 58, then explained that he will be helping the chief executive officer (CEO) in making strategic business development decisions. There are no such officer previously in the place, it was done by the CEO– in this case it was done by Gafur Sulistyo Umar, or prefer to be called as Bobby. With Cholil filling the position, the company expect CEO would have a greater time to handle other tasks and responsibilities that is more urgent, strategic, and critical. In doing the job, he will be coordinating with the company’s board of directors, especially CFO and chief investment officer, and other related units operations. With the new position, he sees greater challenge in working with private company. “Especially Bakrie & Brothers is more dynamic compare to other conglomerates. It has bigger potential to become a multi national company from Indonesia. Now the company has been handled by team of professionals, if it is in football its just like Manchester United or Barcelona,” he replied jokingly.

Before this, Cholil was the CFO of Semen Gresik, the largest cement producer in Indonesia. He joined the state-owned enterprise in 2002. In the company, he held the responsibilities to lead several divisions such as finance, accounting, information communication and technology, and general affairs division. He was also handling the group’s finance management since Semen Gresik also a holding company of smaller state-owned cement producer PT Semen Padang and PT Semen Tonasa, and six other business units. After completing his second term as the director of Semen Gresik for eight years, the extra ordinary share holders meeting held in March 11, 2011, decided to replace him with Ahyanizaman. Yani was the head of finance and accounting division. Cholil is not sure whether Yani will lead the same divisions structure like he used to be.

In February, Bakrie & Brothers also place a new official at the company. Indra Novan Ginting is filling the position as the chief investor relations officer, from previously director of investor relations and corporate secretary at PT International Nickel Indonesia Tbk [INCO], the largest nickel in matte producer. Bakrie & Brothers is a holding company owned and controlled by Bakrie family. Aburizal Bakrie, 64, is rank number 10 in the list of Indonesian richest. In 2010, Forbes estimate the family’s wealth is worth $2.1 billion.


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