Executive Summary

Key insights and market outlook

PT GoTo Gojek Tokopedia Tbk (GOTO) is set to undergo a leadership transition with Hans Patuwo nominated as the new CEO, replacing Patrick Walujo who resigned on November 24, 2025 ¹

⁴. The change will be effective pending approval at the Extraordinary General Meeting of Shareholders (EGMS) on December 17, 2025 ¹. GOTO's stock price has shown positive movement following the announcement, rising 3.12% to Rp 66 per share ³.

Full Analysis

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Deep Dive Analysis

GOTO Announces Leadership Transition: Hans Patuwo to Lead the Company

Background of Leadership Change

PT GoTo Gojek Tokopedia Tbk (GOTO), Indonesia's prominent technology company, has announced a significant leadership transition. Patrick Walujo, who has been serving as CEO since June 2023, has resigned effective November 24, 2025 ⁴

. Following this development, the company's board has nominated Hans Patuwo, currently serving as Director and Chief Operating Officer, to take over as the new CEO ¹.

Transition Process and Timeline

The proposed leadership change is part of a succession plan that has been carefully prepared by the company's board of directors ¹

. The formal approval for this transition will be sought during the Extraordinary General Meeting of Shareholders (EGMS) scheduled for December 17, 2025 ¹². This planned approach reflects the company's commitment to maintaining stability and continuity in its strategic direction.

Market Reaction

Following the announcement, GOTO's stock price demonstrated a positive response, rising by 3.12% to Rp 66 per share ³

. The stock has shown an upward trend not only on the day of the announcement but also in the broader timeframes, with a 4.84% increase over the past week and 18.18% over the past month ³. Despite a 7.14% decline in 2025 so far, the recent positive momentum is noteworthy.

Strategic Implications

The leadership transition comes at a time when GOTO is navigating significant strategic decisions, including speculation about a potential merger with Grab ²

. While the change in CEO is not directly linked to the merger discussions, it has added to market speculation about the company's future direction. Major investors like SoftBank have previously been known to push for structural changes such as mergers or acquisitions to streamline operations and reduce costs ².

Additional Corporate Developments

The company also witnessed other significant changes alongside the CEO transition. Ade Mulyana, Director of Public Affairs and Communications, has resigned to focus on family commitments and other professional activities ⁴

. Furthermore, two commissioners, Pablo Malay and Winato Kartono, have submitted their resignations ⁴. To fill these positions, Andre Soelistyo and Santoso Kartono have been nominated as new commissioners, bringing their strategic experience and deep understanding of technology and investment to strengthen the company's governance and oversight functions ⁴.

Conclusion

The leadership change at GOTO marks a significant development in the company's journey towards achieving sustainable profitability. With Hans Patuwo at the helm, the company is poised to continue its transformation journey that began under Patrick Walujo's leadership. The upcoming EGMS on December 17, 2025, will be a crucial event determining the formal approval of this transition.

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