Minister of BUMN Introduces New Talent and Succession Management Processes for BoD Members at BUMN

In a bid to provide a reliable and accountable appointment system for members of boards of directors (“ BoD Members ”) at State-Owned Enterprises (Badan Usaha Milik Negara –“ BUMN ”), the Minister of BUMN (“ Minister ”) has issued Regulation No. Per-11/MBU/07/2021 on Requirements, Appointment Procedures and Discharging Procedures for BoD Members at BUMN (“ Regulation 11/2021 ”). This regulation repeals and replaces the previous framework of Regulation No. Per-03/MBU/02/2015 , which bore the same title (“ Regulation 3/2015 ”). [1]