Gajah Tunggal Tbk has a new chief executive. Shareholders in the Indonesia Stock Exchange-listed company have chosen former chief operating officer Budhi Santoso Tanasaleh for the role of president director; he succeeds Christopher Chan, who has been appointed president commissioner of Gajah Tunggal.
Although sales at PT Gajah Tunggal Tbk dipped 3.9 per cent (to Rp 3,075 billion, or £146.4 million) in the first quarter of 2015, this decline was attributed to challenges in the domestic market. The Indonesian tyre maker speaks of strong export market performance, and company president director Christopher Chan Siew Choong confirmed this focus at Gajah Tunggal’s annual and extraordinary meeting of shareholders on 29 June. In particular, he indicated that the USA shows particular potential.
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