Tokopedia names new chief, makes changes in ownership structure of subsidiaries

Following the completion of the merger transaction between Tokopedia and TikTok, the Indonesian e-commerce firm has made organisational changes including the appointment of Vonny Ernita Susamto as its new president director, shows its disclosure to the Indonesian stock exchange.

Susamto, a member of ByteDance’s category management team since 2021, has over a decade of retail experience in Jakarta-based companies, including in her previous role as a category manager at Indonesian logistics firm Jet Commerce.

In addition to Susamto, Tokopedia’s board of directors now includes Mengzhi Xu and former COO Melissa Siska Juminto. While public information about Xu is limited, Juminto has been a prominent figure in the company since 2012, serving as COO in 2018 and assuming the role of President of Tokopedia last year.

The board of commissioners now includes Wilfred Halim as president commissioner. Halim was previously serving as the regional lead for e-commerce governance and experience at TikTok. He brings leadership experience from other tech companies including heading Lazada’s Indonesia business, as well as head of strategy and ops- trust, identity, and safety at Grab.

DealStreetAsia has reached out to GoTo and TikTok for comment.

The disclosure also revealed changes in the ownership structure of subsidiaries affiliated with Tokopedia. As a result of share transactions, several entities formerly under the control of Tokopedia Group are now under the control of GoTo Group. Notable among these are Bridestory Pte. Ltd., PT Cerita Bahagia, and Bridestory Philippines Inc., all associated with the wedding marketplace Bridestory, which Tokopedia acquired in 2019.

Other entities are Tokopedia India Private Limited, PT Jagad Inter Data, PT Digital Investindo Jaya, PT Semangat Bambu Runcing, Bintang Kecil Pte. Ltd., PT Semangat Empat Lima, and PT Roda Bangun Selaras (RBS).

Tokopedia has also invested in various local startups, such as Sayurbox, Xurya, and SiCepat Ekspress.

Tokopedia announced the completion of the merger transaction with ByteDance’s short video platform, TikTok on Wednesday. The businesses of Tokopedia and TikTok Shop Indonesia are now formally merged under the PT Tokopedia entity, which is co-owned by GoTo and TikTok, with the latter holding a controlling stake.

Along with the announcement, the GoTo Group also said that it has achieved positive adjusted EBITDA for the fourth quarter of 2023 while surpassing the upper limit of its full-year 2023 adjusted EBITDA guidance range.