The Story Behind KB Bukopin Board Overhaul

PT Bank KB Bukopin Tbk (BBKP) announced a major reshuffle of the board of directors and commissioners at the Extraordinary General Meeting of Shareholders last Friday. In the meeting, the company submitted the resignations of the company's officials, including Bo Youl Oh (President Commissioner), Susiwijono (Commissioner), Sapto Amal Damandari (Company Deputy Commissioner), and Hari Wurianto (Company Director).

The shareholders in the meeting also appointed several new ones, such as Jerry Marmen as the President Commissioner, Nam Hoon Cho as the Deputy President Commissioner, Sukriansyah S. Latief as the Independent Commissioner, Eugene K. Galbraith as the Independent Commissioner, and Henry Sawali as the Director of KB Bukopin. "Today's meeting decision will be effective after passing the fit and proper test from the Financial Services Authority [OJK] as the regulator," Chang Su Choi, the President Director of KB Bukopin, explained.

He revealed that their resignations were a mutually agreed decision. Hari Wurianto, for example, resigned after being appointed as President Director of PT Bank KB Bukopin Syariah, the company's subsidiary. "This corporate action was an effort taken by the company to maintain customer's trust. The company must always transform for the better every year," Chang continued.