President Prabowo Subianto has officially allowed foreign nationals to lead Indonesia’s state-owned enterprises (SOEs), marking a significant regulatory shift to align the sector with international business standards.
“I have changed the regulations. Now expatriates, non-Indonesians, can lead our state-owned companies. So, I am very enthusiastic,” Prabowo said during a dialogue with Forbes Media Chairman Steve Forbes at the Forbes Global CEO Conference 2025 in Jakarta on Wednesday (October 15, 2025), as quoted by Kompas.
Prabowo has instructed Danantara Indonesia, the holding body managing SOEs, to seek top global talent to lead key enterprises.
“I told Danantara’s management to operate according to international business standards. You can look for the best minds, the best talents,” he added.
SOE Restructuring to Improve Returns
In addition to leadership reforms, Prabowo outlined plans to streamline Indonesia’s SOEs. From around 1,000 companies, the number will be rationalized to about 200–240 to improve efficiency and profitability.
“I have given directions to the Danantara chairman to rationalize everything, reducing the number of SOEs from around 1,000 to perhaps 200, 230, or 240, and to run them according to international standards,” Prabowo explained.
He expressed confidence that the restructuring would increase returns to the state. “I am sure that profit yields of one or two percent can rise — they must rise,” he emphasized.
New Leadership at Garuda Indonesia, Two Foreign Nationals Join
The policy shift was quickly reflected in a leadership shake-up at PT Garuda Indonesia (Persero) Tbk, the country’s flag carrier. According to TribunNews, on October 15, 2025, the company appointed two foreign nationals to its board of directors during an extraordinary general meeting of shareholders (RUPSLB).
- Balagopal Kunduvara was appointed Director of Finance and Risk Management. A senior executive at Singapore Airlines, he brings over 25 years of experience in the global aviation industry.
- Neil Raymond Mills was appointed Director of Transformation. He previously held senior roles at Scandinavian Airlines (SAS), including Chief Procurement Officer and Head of Transformation between June 2024 and September 2025.
Their appointments are part of President Prabowo Subianto’s broader strategy to bring international expertise into Indonesian state-owned enterprises and enhance corporate governance.
Meanwhile, the role of President Director of Garuda Indonesia has been assumed by Glenny H. Kairupan, replacing Wamildan Tsani, who had served since November 15, 2024. Glenny, a retired three-star general, previously held the position of commissioner at the airline.
“In the 2025 extraordinary shareholders meeting, shareholders officially approved the appointment of Glenny H. Kairupan as the new President Director of Garuda Indonesia and honorably dismissed Wamildan Tsani,” the airline stated in its press release on Thursday (October 16, 2025).
Thomas Sugiarto Oentoro was also appointed as Vice President Director. Other key members of the board include Reza Aulia Hakim (Commerce), Dani Haikal Iriawan (Operations), Mukhtaris (Engineering), Eksitarino Irianto (Human Capital & Corporate Service), and Neil Raymond Mills (Transformation).
Source: Kompas, TribunNews
Photo Credit: setneg.go.id
