Minister of BUMN Revises Appointment System for Boards of Directors of BUMN

In an attempt to strengthen the appointment system for Boards of Directors (“ BoD ”), as well as the management of talent within the scope of State-Owned Enterprises (Badan Usaha Milik Negara– “ BUMN ”), the Minister of BUMN (“ Minister ”) has determined that several adjustments need to be introduced to the existing system. In essence, said matters that require adjustment are currently addressed under Regulation of the Minister of BUMN No. PER-11/MBU/07/2021 on Requirements, Appointment Procedures and Discharging Procedures for BoD of BUMN (“ Regulation 11/2021 ”). [1]