Officially Becoming the Controller, TikTok Restructures the Board of Directors of Tokopedia

CORPORATE STRATEGIC- JAKARTA. PT GoTo Gojek Tokopedia Tbk (GOTO) has announced that TikTok has officially completed its investment transaction in PT Tokopedia. In connection with this, TikTok has also reshuffled the board of directors of Tokopedia. 

As known, PT Tokopedia issued new shares to be paid by TikTok worth US$ 840 million. Thus, TikTok officially holds 75.01% of the shares or equivalent to 38.18 million Tokopedia shares. 

Meanwhile, GOTO still holds 24.99% of PT Tokopedia's shares. As a result, with this investment, TikTok becomes the new controller for Tokopedia and GOTO's dominance is further reduced. 

Quoting from the disclosure of information, Wednesday (31/1), GOTO reported that there has been a change in the board of directors. Vonny Ernita Susamto officially fills the position of CEO of Tokopedia. 

Just so you know, Vonny previously served as Category Management at ByteDance since 2021. This graduate of Pelita Harapan University also holds the position as Incubation Lead at TikTok Shop Indonesia.  

Meanwhile, Melissa Siska Juminto, who previously served as CEO of Tokopedia, has stepped down to become a director. Melissa is a representative of the GoTo Group within Tokopedia. 

CEO of GOTO Group Patrick Walujo also took a position at PT Tokopedia. Patrick Walujo took a position on the board of commissioners as a commissioner of Tokopedia. 

Here is the composition of the Board of Commissioners and Directors of Tokopedia as of January 31, 2024. 

Board of Commissioners
Main Commissioner: Wilfred Halim
Commissioner: Chi-Jen Sung
Commissioner: Ran Gao
Commissioner: Sugito Walujo
Commissioner: Garibaldi Thohir

Directors 
CEO: Vonny Ernita Susamto
Director: Mengzhi Xu
Director: Melissa Siska Juminto.