JAKARTA. PT Matahari Department Store Tbk (LPPF), a retail company operating since 1958, has changed the board of directors and commissioners after conducting its Extraordinary General Meeting of Shareholders today (22/12).

The core agenda of this meeting is the modification of the board of directors and commissioners. In this meeting, the shareholders approved the resignation of Monish Manohar Mansukhani from his position as President Commissioner of the company, and Terence Donald O’Connor from his position as Vice Independent President Director.

Nevertheless, Monish will remain in the company as Vice President Director of LPPD, replacing Terence. Meanwhile, the new President Director is Andy Adhiwana.

“In the future, Matahari is committed to continue transformation to attain vision and mission of the company, as well as continue focusing in creating innovation of new products and developing a more solid brand portfolio strategy,” said the management of LPPF, mentioned in the official disclosure.

According to IDNFinancials data, LPPD booked net revenue of IDR 4.98 trillion within the first nine months (9M) of 2023. The net profit was seen at IDR 630 billion. (KR/ZH)