Ferdinand Sadeli, former Finance Director of property developer PT Bakrieland Development Tbk (ELTY) has finally resigned from his position and moved to foreign investment bank Barclays Capital effectively starting on November 1 2010.
As reported by a local media today said Ferdinand's resignation from Bakrieland was spurred by his disagreement with others directors at the company on Rp3.2 trillion rights issue. Some part of the rights issue proceed had been used by Bakrieland to acquire land bank from PT Bukit Jonggol worth Rp1.9 trillion.
A source acknowledges with the matter said being member of board of directors at Bakrie Group should have ability to face conflicts, which is a normal thing.
"When his position is on the brink of situation and a foreign investment bank offers a prospective position, if I were Ferdinand Sadeli, I would also prefer to leave Bakrieland," the source said.
Ferdinand joined Bakrieland in July 2007. Previously, he took his Senior Manager at a consultancy firm Ernst & Young between period of 2002-2007.
He accomplished his study at Trisakti University and reached Master of Applied Finance from Melbourne University, Australia.
Meliza Musa & Goldman Sachs
In coincidence, Meliza Musa, former investment banker of UBS Securities, which recently also resigned from his position as CFO at PT Ancora Indonesia Resources Tbk, might join another foreign investment bank, Goldman Sachs.
"Meliza is expected to join Goldman Sachs effectively on December 1 2010," the source told Insider Stories.Disclosure: No position at the stock mentioned above.
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