Garuda Indonesia faces restructuring under new boss
By Steve Creedy Tue Apr 18, 2017
Garuda Indonesia’s new chief executive is expected to waste little time getting stuck into his brief to restructure the airline after a government minister said results were expected within a year.
Pahala Nugraha Mansury, the director of finance and treasury at state-owned bank Mandiri, was appointed earlier this month to replace former chief executive Arif Wibowo after the airline was rocked by a global corruption scandal and 2016 profits plunged by almost 90 per cent.
Mansury’s experience in restructuring was cited at the time as a key factor in his appointment and this was confirmed this week to magazine Tempo.co by Indonesia’s State-owned Enterprises Minister Rini Soemarno.
"They need a thorough restructuring in operation and finances," Soemarno told Tempo in an April 18 Interview.
Areas the Minister said the new CEO should address included strengthening domestic and international operations and extracting more from the relationships between Garuda Indonesia and subsidiaries and sister companies such as Citilink, GMF and Aerowisata.
"We give him 12 months," Soemarno said.
Mansury has an MBA from New York University's Stern School of Business and worked with consultants such as Boston Consulting before joining Mandiri in 2003.
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