Leadership Shuffle at GoTo: CEO Patrick Walujo Steps Down Amid Merger Talks

Indonesian ride-hailing giant GoTo announced CEO Patrick Walujo's resignation, nominating COO Hans Patuwo as his successor, amid merger discussions with rival Grab. Patuwo, a nearly eight-year veteran of GoTo, awaits approval in December. Shares surged 6.3% post-announcement, reflecting GoTo's strategic commitment to sustainable growth.

In a significant leadership change, Indonesian ride-hailing company GoTo announced on Monday the resignation of its CEO, Patrick Walujo, nominating Chief Operating Officer Hans Patuwo as his successor.

The announcement comes amid intensified merger talks with Singapore-based rival Grab, highlighted by the Indonesian government's discussions with both companies earlier this month. According to GoTo, these changes are part of a strategy to maintain stability and ensure sustained growth and profitability.

Patuwo's ascension to CEO awaits approval at a shareholders' meeting set for December 17. Patuwo's leadership experience spans nearly eight years, during which he managed key business lines. Following the leadership announcement, GoTo's shares rose by 6.3%.

(With inputs from agencies.)