PT Merdeka Battery Materials Tbk (MBMA) will propose a change in the composition of the Company's Board of Directors at the Annual General Meeting of Shareholders (RUPST) which is scheduled to take place electronically through the KSEI Electronic General Meeting System facility (eASY.KSEI) today, Wednesday, June 17.
In the agenda, the Company will ask for shareholder approval for the appointment of James Nicholas and Ashutosh Srivastava Fausimm as members of the Company's Board of Directors. James Nicholas will carry out the function as Chief Financial Officer (CFO), while Ashutosh Srivastava Fausimm will strengthen the Company's operational function as an Operational Director.
President Director of PT Merdeka Battery Materials Tbk, Teddy Nuryanto Oetomo, said the presence of the new candidate for Board of Directors is expected to complement the Company's leadership structure, especially in strengthening financial and operational functions.
"We believe that the experience and competence brought by the new candidate for Board of Directors will strengthen the Company's ability to implement business strategies, improve operational effectiveness, and maintain financial discipline in supporting MBMA's long-term growth," said Teddy.
James Nicholas, 43, has been with MBMA since November 2022 and serves as the General Manager of Finance, Accounting, and Tax of the Company. He has extensive experience in finance and accounting, internal control, ERP system implementation, treasury, and business process improvement.
Before joining MBMA, James had held a number of senior positions, including Group Head of Finance, Accounting, and Tax at PT GoTo Gojek Tokopedia Tbk, Senior Vice President Finance Controller at Lazada Group Indonesia, Business Control Policy Improvement Senior Manager at PT SMART Tbk, and a career as a Manager at PricewaterhouseCoopers Indonesia and London, United Kingdom.
Meanwhile, Ashutosh Srivastava Fausimm has joined MBMA since March 2023 and is currently serving as Executive General Manager. Ashutosh has over 35 years of experience in the mining industry in Australia, Indonesia, and India, with expertise in mining project development, mine planning and design, operations scheduling, and management of mining activities.
Before joining the MBMA Group, he held a number of strategic positions in mining companies, including Coal India Limited, PT Merdeka Battery Materials Tbk (IDX: MBMA) which was later known as Vault Minerals Limited. He earned a Bachelor of Mining Engineering from Banaras Hindu University and a Bachelor of Law from Ranchi University, India, and has a number of professional certifications in the field of mine management and qualifications as a Competent Person for JORC and NI 43-101 reporting.
The change in the Board of Directors also includes the submission of Anthony Kartono Tan's resignation from his position as Director of the Company. The Company expresses its appreciation for the contributions and dedication that Anthony has provided during his tenure as a member of the MBMA Board of Directors.
This decision will be effective after obtaining shareholder approval in the RUPST, with a term of office in accordance with the Company's Articles of Association and applicable laws and regulations. There is no proposal to change the composition of the Company's Board of Commissioners.
MBMA will continue to focus on strengthening governance, implementing operational strategies, and developing businesses that support the Company's position in the battery raw material value chain. The Company is committed to maintaining business continuity, strengthening performance, and creating long-term value for shareholders and all stakeholders.
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