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20231221_LPPF_Laporan Informasi dan Fakta Material_31561758_lamp1.pdf
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PRESS RELEASE
22 December 2023
Matahari Announces Changes to the Structure of the Board
of Commissioners and Directors
PT Matahari Department Store Tbk ("Matahari" or "the Company"; Stock Code: "LPPF")
held an Extraordinary General Meeting of Shareholders ("EGMS") on Friday (22/12). The
meeting, attended by shareholders both physically and online through the Electronic
General Meeting System (eASY) provided by PT Kustodian Sentral Efek Indonesia (KSEI),
addressed the approval of plans to alter the Company's Board of Commissioners and
Directors.
During this EGMS, shareholders approved several changes in the structure of the Board
of Commissioners and Directors, which included:
The resignation of Monish Manohar Mansukhani as President Commissioner and
the appointment of Andy Adhiwana as the new President Commissioner;
The resignation of Terence Donald O'Connor from his position as Independent Vice
President Director of the Company and the appointment of Monish Manohar
Mansukhani as the new Vice President Director.
In relation to the approval of the resignation of Company’s Directors and the
appointment of members of the Board of Commissioners/Directors, hence the
Company’s Board of Commissioners and Directors will be as follows:
Board of Commissioners:
President Commissioner : Andy Adhiwana
Independent Vice President Commissioner : Roy Nicholas Mandey
Commissioner : Adrian Suherman
Independent Commissioner : Bianca Cheo Hui Hsin
Independent Commissioner : David Fernando Audy
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Menara Matahari 12th Floor T 62 21 547 5228
Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com
Karawaci, Tangerang 15811, Indonesia www.matahari.com
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Directors:
President Director : Bunjamin Jonatan Mailool
Vice President Director : Monish Manohar Mansukhani
Independent Director : Niraj Jain
Independent Director : Irwin Abuthan
Independent Director : Herni Dian Anggreani
Independent Director : Rachel Fiona Stack
The Company extends congratulations to the newly appointed members of the Board of
Commissioners and Directors and expresses gratitude to Terence Donald O'Connor for
his contributions and services during his tenure with the Company.
Moving forward, Matahari is committed to continuing its transformation to achieve the
Company's vision and mission. The company will focus on creating innovative new
products and developing a stronger brand portfolio strategy for all consumer segments
in Indonesia.
###
About Matahari
Matahari is the largest retail platform in Indonesia, with 157 stores in 82 cities across
Indonesia as well as presence online on matahari.com, social commerce platform "Shop
& Talk", and third-party marketplaces. For over 60 years, Matahari has provided the
growing Indonesian middle class with quality, fashionable and affordable apparel,
beauty and footwear products. Matahari employs around 30,000 employees (including
consignment SPGs) and partners with around 600 local as well as international suppliers.
The Company has received many industry recognitions – nationally and internationally –
including TrenAsia’s ESG Awards 2023, Fashion Retail of The Year 2023 by HIPPINDO, Top
50 Mid Capitalization Public Listed Company 2023 by IICD, Top 100 Most Valuable Brand
by Brand Finance, Most Improved Investor Relations and Top 5 Best Senior Management
IR Support in 2022 from Alpha Southeast Asia, Top 10 CSR Donor from IDX, Best Non-
Financial Sector and Top 10 Mid-Cap Issuers ASEAN Corporate Governance Awards 2022,
Top Digital Company & Best Excellent Service Experience Index Award 2022 from
Marketing Magazine, Top 50 Most Valuable Brand Awards 2021 from Brand Finance
Indonesia, Top 500 Retail Asia Pacific from Retail Asia, Euromonitor & KPMG; Brand Asia
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Menara Matahari 12th Floor T 62 21 547 5228
Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com
Karawaci, Tangerang 15811, Indonesia www.matahari.com
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2018 – Top 3 Most Powerful Retail Brands in Indonesia from Nikkei BP Consulting, Inc. and
WoW Brand Award 2019 – Gold Champion from MarkPlus Inc. The Company also
received the Stellar Workplace Award 2023 in Employee Commitment and Employee
Satisfaction, and the Netizen's Brand Choice Award 2018 from Warta Ekonomi. All of these
awards reaffirm the Company's position as one of the leading, most dynamic, and trusted
companies in Indonesia.
Untuk informasi lebih lanjut, harap menghubungi:
Corporate Communications / Investor Relations
Matahari
Tel: (62 21) 547 5228
E-mail: corp.comm@matahari.com, ir@matahari.com
This press release has been prepared by Matahari and is circulated for the purpose of general information only. It is not
intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPPF.
No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and
estimations included in this release constitute our judgment as of this date and are subject to change without prior notice.
LPPF disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as
a result of reliance upon the whole or any part of the contents of this press release and neither LPPF nor any of its affiliated
companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise,
in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Forward-Looking Statements
Certain statements in this release are or may be forward- looking statements. These statements typically contain words
such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a
number of risks and uncertainties that could cause actual events or results to differ materially from those described in this
release. Factors that could cause actual results to differ include, but are not limited to, economic, social, health and
political conditions in Indonesia; the state of the retail industry in Indonesia; prevailing market and operating conditions,
raw material prices and Import restrictions; competition from other companies; shifts in customer demands; changes in
operation expenses, including employee wages, benefits and training, governmental and public policy changes; our
ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our
management for future operations;. Should one or more of these uncertainties or risks, among others, materialize, actual
results may vary materially from those estimated, anticipated or projected. Although we believe that the expectations of
our management as reflected by such forward-looking statements are reasonable based on information currently
available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly
rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation
to update or revise any of them, whether as a result of new information, future events or otherwise.
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Menara Matahari 12th Floor T 62 21 547 5228
Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com
Karawaci, Tangerang 15811, Indonesia www.matahari.com
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Page 4 of 4 Menara Matahari 12th Floor T 62 21 547 5228 Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com Karawaci, Tangerang 15811, Indonesia www.matahari.com
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