Executive Summary

Key insights and market outlook

PT Bank Mandiri (Persero) Tbk (BMRI) has restructured its board of commissioners through an Extraordinary General Meeting of Shareholders (RUPSLB) on December 19, 2025. The changes include the appointment of Zulkifli Zaini as the new President Commissioner, replacing Kuswiyoto ¹

²³. Additionally, M. Rudy Salahuddin Ramto was appointed as Vice President Commissioner, replacing Zainudin Amali ²³. The restructuring also saw the appointment of B. Bintoro Kunto Pardewo as a new Independent Commissioner ²³. These changes aim to strengthen the bank's governance and leadership.

Full Analysis

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Deep Dive Analysis

Bank Mandiri Restructures Leadership through Extraordinary GMS

Significant Changes in Commissioner Roles

PT Bank Mandiri (Persero) Tbk (BMRI) conducted an Extraordinary General Meeting of Shareholders (RUPSLB) on December 19, 2025, resulting in significant changes to its board of commissioners ¹

²³. The meeting led to the appointment of Zulkifli Zaini as the new President Commissioner, replacing Kuswiyoto who was previously appointed in the March 25, 2025 RUPSLB ¹².

Key Appointments

Zulkifli Zaini as President Commissioner: Previously served as Independent Commissioner
M. Rudy Salahuddin Ramto as Vice President Commissioner: Replaced Zainudin Amali
B. Bintoro Kunto Pardewo as Independent Commissioner: New addition to the board

Rationale Behind the Changes

The restructuring aims to strengthen Bank Mandiri's governance and leadership structure. Corporate Secretary Adhika Vista stated that the changes are expected to enhance the bank's long-term business strategy and support national economic growth ²

³. The bank's management expressed appreciation for the outgoing commissioners' contributions, particularly Kuswiyoto and Zainudin Amali, in driving the bank's performance and transformation ².

Profile of New Commissioners

Zulkifli Zaini

Born on January 13, 1956, in Bukittinggi, West Sumatra
Previously served as PLN Director General (2019-2021)
Held various strategic positions at Bank Mandiri, including CEO
Alumni of Institut Teknologi Bandung (ITB) and University of Washington

M. Rudy Salahuddin Ramto

Currently serves as Secretary of the Investment Ministry/BKPM
Holds PhD in Engineering Management from The George Washington University
Previously served as Commissioner in various state-owned enterprises

B. Bintoro Kunto Pardewo

Holds PhD in Finance from Universitas Indonesia
Previously served as Commissioner at PT Danareksa (Persero)
Held important positions at Bank Indonesia

Impact on Bank's Operations

The changes in the commissioner roles are not expected to affect the bank's current operations as the board of directors remains unchanged. Riduan continues as CEO with Henry Panjaitan as Deputy CEO ²

³. The restructuring demonstrates the bank's commitment to maintaining strong governance while pursuing its strategic objectives for the 2025-2029 period.

References