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Bank Rakyat Indonesia head resigns after rejecting another state-owned bank role

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Bank Rakyat Indonesia head resigns after rejecting another state-owned bank role

PT Bank Rakyat Indonesia (Persero) Tbk President Director Suprajarto resigned from his role after rejecting a directive to head up another state-owned lender as he was not consulted beforehand, The Jakarta Post reported Aug. 30, citing a statement from the executive.

This came after PT Bank Tabungan Negara (Persero) Tbk shareholders approved the Indonesia's State-Owned Enterprises Ministry's move to appoint Suprajarto as president director. In response, Suprajarto said there was no consultation or discussion about the move and that he would instead resign from his current role.

The appointment counters Indonesian President Joko Widodo's directions to ministries to avoid making strategic policy changes, including management changes at SOEs, the report said. It added that economists and politicians have lambasted such management changes as being counterproductive to performance.