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GoTo GoJek Tokopedia's CEO steps down, replacement named

GoTo GoJek Tokopedia's CEO steps down, replacement named

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GoTo Gojek Tokopedia's president director and Group CEO, Andre Soelistyo, will be stepping away from his role as CEO and will move up to a commissioner role as deputy chairman, according to a statement by the company.

As a board member, Soelistyo will supervise and advise the company on its strategic direction as it progresses towards becoming adjusted EBITDA positive by the end of the year as well as for its sustainable long-term growth.

Patrick Walujo, who is currently a member of the board of commissioners of the company, has been nominated to become the company's new president director and group CEO, subject to shareholder approval. 

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“The progress we have made is built on the work of countless people, including the world class leaders who currently run the business," said Soelistyo. "As a historically founder-led organization, GoTo has always prioritised the development of leaders, so we can move beyond founders towards long term professionalisation. Our progress in this regard gives me confidence that now is the right time to allow the many leaders the company has developed to take things forward," he said. 

“Serving as CEO of GoTo has been a great honor and I will always be grateful for the opportunities the company has brought to me. I am proud of the culture and resilience we have built and I believe that while change is ever present, our commitment to our mission will always stand. This company will constantly act as a catalyst for good, with values that ensure we continuously work to improve life and empower progress for our customers, be they drivers, merchants or consumers.”

Soelistyo, who joined Gojek as president in 2015, led the company's fundraising efforts and oversaw its transition to become Indonesia’s first homegrown unicorn. He led multiple Gojek fundraising rounds, attracting investment from many global financial and strategic investors, and was appointed as the company's co-CEO in 2019.

In 2021, he presided over the combination of Gojek and Tokopedia, which led to the creation of GoTo, and was appointed CEO of the combined group. As CEO, he led the business through its historic IPO on the Indonesia Stock Exchange in 2022, while personally overseeing the Gotong Royong Share Program, which provided driver-partners, merchants and consumers, as well as employees, with the opportunity to benefit from the IPO.

Walujo, on the other hand, has been part of Gojek's journey from its earliest days, and was the first investor in the Gojek app, which ultimately led to a new way of life for millions of consumers, drivers and merchants. He is also a strong supporter of Indonesia’s digital economy, possessing an in-depth understanding of the tech sector, which will add great value to GoTo’s management team.

“Over the years, GoTo has grown to become a globally recognised company rooted in the streets, kampungs and small businesses of Indonesia, that flies the flag for the country’s tech industry on the world stage,”  Walujo said in a statement. 

“As an early investor in Gojek and a current commissioner of GoTo, I have always had confidence in the company. Over the past few months, the board has been working closely with the management team on its strategy and profitability milestones. Subject to shareholders’ approval of my nomination, I will take an even more active role as we chart a course for the future. I will dedicate my full attention to GoTo, working closely with the management team to accelerate the progress of the business units, optimize for the company's profitability strategy and strengthen the foundations that have been laid for long term growth.”

Walujo will be supported by Gojek veteran Thomas Husted, who will be nominated as vice president director in order to take on the role of chief operating officer as long as shareholders agree. 

Husted was Gojek’s CFO from 2017 to 2021 and played a critical role in the combination of Gojek and Tokopedia. During his tenure, he built much of the internal infrastructure that was required for GoTo’s IPO. Husted and Walujo have worked together for many years.

In a further change of role and responsibilities to the board of commissioners, subject to shareholder approval, commissioner Agus D.W. Martowardojo will assume the role of president commissioner, while current president commissioner Garibaldi Thohir will transition to the role of commissioner. 

The changes to the composition of GoTo's board of commissioners and board of directors was part of the agenda for the company's annual general meeting of shareholders and extraordinary general meeting of shareholders which will be held on 30 June. 

The news comes shortly after ComfortDelGro and Gojek tied up to jointly explore ways to address key issues affecting the point-to-point transport industry, including driver shortage. The two companies agreed to look at providing Gojek users with access to ComfortDelGro taxis via the Gojek app to help address the driver shortage issue that is currently facing the industry.

During the two-year partnership, both parties will also explore other areas of collaboration including the sharing of resources which will benefit drivers and passengers. These include electric vehicle and ancillary revenue opportunities, as well as support solutions such as insurance, driver training and vehicle maintenance. According to ComfortDelGro, more details will be announced over the course of the next few months. When asked if the partnership will involve combined marketing efforts, ComfortDelGro's spokesperson reiterated that both parties are still at discussion stage. There is also no monetary investment at this point.

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