Bukalapak CEO to step down months after taking firm public (Update)

Update (January 5, 5 pm): Updated with details on Kaimuddin’s replacement.

Muhammad Rachmat Kaimuddin, the CEO of recently listed Indonesian ecommerce major Bukalapak, submitted his resignation letter to the firm on December 28.

Bukalapak CEO Rachmat Kaimuddin / Photo credit: Bukalapak

In a statement, the company said Kaimuddin will help the internal transition of leadership. After stepping down, he will “serve the nation and work for the government,” the firm said. Tech in Asia has reached out to Bukalapak for more details, including Kaimuddin’s official date of resignation.

Bukalapak has nominated its chief operating officer, Willix Halim, to become the new CEO of the company. Before joining Bukalapak in 2016, Halim was an executive for Australia-based Freelancer.com.

The Indonesian firm also pushed for its president for commerce and fintech, Victor Putra Lesmana, and Mitra Bukalapak CEO Howard Nugraha Gani to join its board of directors.

See also: Bukalapak’s financial performance in 8 charts

Kaimuddin has served as Bukalapak’s CEO since January 6, 2020. He took over the role, replacing founder Achmad Zaky, who left the company along with his co-founders Muhammad Fajrin Rasyid and Nugroho Herucahyono.

Prior to joining Bukalapak, Kaimuddin was the director of finance and planning at Bank Bukopin, a publicly listed Indonesian lender. He also served as a senior associate at Boston Consulting Group and worked in senior executive roles for various local companies.

In August this year, Kaimuddin succeeded in taking Bukalapak public, making the company the first Indonesian unicorn to list on the country’s stock exchange. The company raised around US$1.5 billion in its stock market debut – the biggest in the bourse’s history.