PT GoTo Gojek Tokopedia Tbk (IDX: GOTO, “GoTo Group” or the “Company”), the largest digital ecosystem in Indonesia, today announced that CEO Patrick Sugito Walujo has committed to stay on as CEO until 2029.
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The announcement comes as the Company has reported significant improvements in its performance under Patrick’s leadership over the past year. In the third quarter of 2024, Group core GTV grew by 74% YoY to Rp72.0 trillion, while gross revenue also increased by 34% YoY to Rp4.7 trillion. This strong performance was underpinned by a 21% YoY increase in Monthly Transacting Users (MTUs) across the GoTo Group ecosystem.
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As CEO, Patrick will focus on driving GoTo towards long term profitable growth and GoTo’s Board of Commissioners has approved a performance-based retention package as part of his employment arrangement.
Patrick Walujo, GoTo Group CEO, said: “Leading GoTo over the past 18 months has been an incredible honor and I am proud to commit my long term future to the Company. My time here has given me great belief in the immense potential of our team, our vision, and our commitment to driving Indonesia’s digital transformation. As a company, we are uniquely positioned to shape the future of technology in Indonesia, empowering businesses, enhancing everyday lives, and contributing meaningfully to the nation’s economy. As we look ahead to the new year and drive towards profitable growth, I am confident that we can cement our position as our country’s leading tech company for many years to come.”
Agus D. W. Martowardojo, President Commissioner of GoTo Group, said: “Over the course of Patrick’s tenure as CEO, the company’s prospects have been transformed, setting the stage for long term benefits for shareholders and other stakeholders. GoTo achieved positive adjusted EBITDA in the fourth quarter of 2023 and is on track to achieve this for the full year of 2024. At the same time, growth and profitability have continued to trend upwards. I therefore proudly welcome Patrick’s intention to commit his long term future to the company and look forward to working with him to further stakeholder interests over the coming years.”
About GoTo Group
GoTo Group is the largest digital ecosystem in Indonesia. GoTo’s mission is to ’empower progress’ by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo Group ecosystem provides a wide range of services, including mobility, food delivery, groceries and logistics, as well as payments, financial services, and technology solutions for merchants. The ecosystem also provides e-commerce services through Tokopedia and banking services through its partnership with Bank Jago.
