Old Hands, New Chairs
The transaction for acquisition of majority stake in Freeport Indonesia has been completed. Inalum fails to propose its preferred candidate for CEO.
Nineteen names were in the list of candidates for directors and commissioners of Freeport Indonesia (IDX: PTFI). The mining company’s majority stakeholder, Indonesia Asahan Aluminium (Inalum), selected the names from some 50 candidates. Finally, only 18 were submitted to the State-owned Enterprises Ministry to be elected: three directors and three commissioners.
“Inalum hired consultants to select these candidates,” the SO...