An investment holding firm controlled by Bakrie family, PT Bakrie & Brothers Tbk, is planning to change its board of directors (BoD).
An executive declined to be named said Nirwan Bakrie has appointed Bobby Gafur Umar and another former Merrill Lynch investment banker to enroll BoD.
"I hear Bobby and former Merrill's banker have been appointed by Nirwan Bakrie to enter BoD. Do they will replace Nalinkant A. Rathod and Dileep Srivastava?" he said.
So far, Nalin and another Bakrie & Brother's Director Ari Saptari Hudaya are too busy with their job, making PT Bumi Resources Tbk's operation and share performance better.
The source said it is better for Nalin and Ari have a focus on Bumi, the biggest devidend contributor for Bakrie & Brothers. Let Bobby Gafur and another executive handle Bakrie's operation and its shares performance. If it is so, it means Nalin and Ari Hudaya should resign from Bakrie & Brothers.
Based on an announcement submitted by Bakrie & Brothers to the Indonesia Stock Exchange, the company will hold an extraordinary general meeting on June 30 2009 with an agenda of management's reshuffle.
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