AGMS
and EGMS
Board of
Commissioners
Board of
Directors
Communication
with Shareholders
Stakeholder
Participation
Information
Disclosure
Risk
Management

Board of Commissioners


At Adaro, the Board of Commissioners (BoC) comprises five members, three of whom are representatives of the major shareholders and two are independent. This composition complies with the Company’s Articles of Association, prevailing laws and regulations and the BoC Charter, which stipulate that at least 30% of board members be Independent Commissioners. All members of the BoC possess integrity, competence and good reputation, and act in good faith, prudently and responsibly, prioritizing the company’s best interests.

The composition of the BoC is based on consideration of the Company’s condition and the diversity of its members’ skills, knowledge and experience.

The BoC supervises the company’s business in accordance with the principles of good corporate governance, laws and regulations, and the Articles of Association. The appointment and dismissal of commissioners is determined by the AGMS.

Duties and Authority: The BoC oversees the company’s management and carries out other duties as mandated by the AGM or applicable laws and regulations. The board advises the BoD and examines certain actions as requested by the latter, in accordance with prevailing regulations and shareholder approval. Board members must also monitor the effectiveness of good corporate governance practices being implemented by the company and make necessary adjustments accordingly.

Adaro has a BoC Charter as a set of guidelines for the BoC. The charter became effective on March 31, 2015.

Mr Soeryadjaya is 66 and an Indonesian citizen. He is the son of the late William Soeryadjaya, founder of PT Astra International Tbk (Astra). He was appointed President Commissioner of PT Adaro Energy Tbk based on Deed No. 62 of April 18, 2008, and re-appointed based on Deed No. 95 of April 19, 2013.

He obtained a bachelor’s degree in Business Administration from the University of Southern California in 1974 and joined Astra in 1978. He helped lead Astra’s financial restructuring and path to IPO from 1987 to 1990, and left in 1993 as Vice President Director. In 1998, he and Sandiaga Uno founded Saratoga Capital, a investment company diversified into mining, infrastructure, oil, gas, toll roads, plantations, ports and cruises.

He is also President Commissionerof PT Adaro Strategic Investments, PT Adaro Strategic Lestari, PT Adaro Strategic Capital, PT Viscaya Investments, PT Biscayne Investments, PT Dianlia Setyamukti, PT Saratoga Investama Sedaya Tbk, PT Tower Bersama Infrastucture Tbk, PT Mitra Pinasthika Mustika Tbk and PT Lintas Marga Sedaya. He is a Director of Interra Resources Limited.

He is also Chairman of the Adaro Bangun Negeri Foundation and co-founder of William Soeryadjaya Foundation and is on the Supervisory Board of the Ora Et Labora Foundation.

 

Mr Rachmat, usually known as Teddy, is 72 and an Indonesian citizen. He started his career at PT Astra International Tbk in 1968 after graduating from the Bandung Institute of Technology with a degree in mechanical engineering. He was appointed Vice President Commissioner of Adaro based on Deed No. 62 of April 18, 2008, and re-appointed based on Deed No. 95 of April 19, 2013.

He was President Director of Astra from 1984 to 1998, served as a Commissioner from 1998 to 2000, was then President Director again from 2000 to 2002, then served as President Commissioner from 2002 to 2005.

He was also a Commissioner at PT Multi Bintang Tbk from 2002 to 2007. He was the founder of Triputra Group and currently is President Director of PT Triputra Investindo Arya and Vice President Commissioner of PT Surya Esa Perkasa Tbk.

He is also a Commissioner of PT Adaro Strategic Investments, PT Adaro Strategic Lestari, PT Adaro Strategic Capital, PT Viscaya Investments, PT Biscayne Investments and PT Dianlia Setyamukti. He serves on the Supervisory Board of Adaro Bangun Negeri Foundation.

Ir. Subianto, usually known as Benny, is 73 and an Indonesian citizen. He is a graduate of Bandung Institute of Technology in mechanical engineering, and was appointed as Commissioner of PT Adaro Energy Tbk based on Deed No. 62 of April 18, 2008, and re-appointed based on Deed No. 95 of April 19, 2013.

He started his career in the heavy equipment division of PT Astra International Tbk. He helped to found PT United Tractors Tbk and joined as Director in 1972, became President Director in 1984, and was a Commissioner and then President Commissioner from 1997 to 1999.

He founded PT Persada Capital Investama in 2003 and is currently President Director.

He is also Commissioner of PT Adaro Strategic Investments, PT Adaro Strategic Lestari, PT Adaro Strategic Capital,PT Viscaya Investments, PT Biscayne Investments and PT Dianlia Setyamukti. He serves on the Supervisory Board of the Adaro Bangun Negeri Foundation.

Mr Setyawan is 76 and an Indonesian citizen. He was appointed an Independent Commissioner of PT Adaro Energy Tbk based on Deed No. 62 of April 18, 2008, and re-appointed based on Deed No. 95 of April 19, 2013.

He earned a bachelor’s degree in mechanical engineering from Bandung Institute of Technology in 1962 and a diploma in ballistic engineering from the University of Belgrade’s Yugoslavian Military Science and Industry Institute in 1966.

He served in the Indonesian Army, reaching the rank of lieutenant colonel before retiring in 1981. He joined PT United Tractors Tbk in 1982, initially serving as a manager and later as Director and Commissioner until 1998.

He was also a Senior Vice President of PT Astra International Tbk from 1989 to 1997, President Director of PT Astra Mitra Ventura from 1992 to 1997, Asia Regional Director of GIBB Ltd from 1997 to 1999, Executive Vice President of PT Raja Garuda Mas from 2000 to 2002, Independent Commissioner of PT Pembangunan Jaya Ancol Tbk from 2004 to 2011, and President Commissioner of PT Jakarta Propertindo from 2010 to 2013.

He is also Chief Supervisor of Adaro Bangun Negeri Foundation.

Dr. Pardede is 55 and is an Indonesian citizen. He was appointed an Independent Commissioner of PT Adaro Energy Tbk based on Deed No. 147 of April 23, 2010, and re-appointed based on Deed No. 95 of April 19, 2013.

He is an economist and researcher, and earned a chemical engineering degree from Bandung Institute Technology in 1984 and a doctorate in economics from Boston University in 1995.

On graduation, he founded the Danareksa Research Institute, a pioneer on early warning indicators, consumer confidence index surveys and business sentiment indexes. He was Chief Economist and Division Head from 1995 to 2000 and was Executive Director from 2002 to 2004.

He was Vice Co-ordinator of the assisting team to the Indonesian Minister of Finance from 2002 to 2004. In 2010, he co-founded Creco Consulting with former Finance Minister Chatib Basri, and is currently its Managing Partner.

Last modified on March 2, 2017, 1:28 pm | 1227