Incoming GoTo CEO to serve in role briefly, improve profits: report

Photo credit: Northstar Group

Incoming GoTo CEO Patrick Walujo is reportedly going to serve temporarily – while still managing his private equity firm Northstar Group – and resign from the super-app company after boosting its profitability, according to Reuters.

Walujo was named as the CEO of the Indonesian tech company last week. His appointment still needs to be confirmed at a meeting of GoTo shareholders on June 30.

Sources told Reuters that Walujo would not serve the entire three-year term.

With GoTo Group’s mission to turn a profit and with the tech industry still experiencing turbulent times, Walujo has been handed the torch to lead the company, replacing Andre Soelistyo.

“Walujo taking the reign will open a possibility to make some uncomfortable changes, which must be seized. I do not, however, see him in the position for long because ultimately he is an investor and still has Northstar to run,” an industry source told Tech in Asia. 

Soelistyo announced his exit from his position as GoTo’s CEO earlier this month. He will still serve as commissioner and deputy chair of the company’s board.

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Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.