Ahead of Sido Muncul's AGM, Irwan Hidayat Prepared to Return as CEO and Oversee Regeneration
JAKARTA, KOMPAS.com — PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO) will hold a General Meeting of Shareholders (GMS) in Semarang, Central Java, on Thursday (9 April 2026).
One of the main agendas of the GMS is the planned reappointment of Sido Muncul’s Director, Dr (HC) Irwan Hidayat, as President Director or Chief Executive Officer (CEO). If approved, this will be Irwan’s second time leading the company as CEO.
For context, Irwan previously served as CEO from 18 December 2013 to 17 May 2016. After that, the position was taken over by Jonatha Sofjan Hidajat (2016–2018), and then by David Hidayat from 17 May 2018 to 2026.
In the proposed plan, Irwan will hold the position of President Director. Meanwhile, David Hidayat will serve as a Director alongside Maria Reviani Hidayat, Darmadji Sidik, and Budiyanto.
The board of commissioners will be filled by Jonatha Sofjan Hidajat as President Commissioner, as well as Johan Hidayat, Sigit Hartojo Hadi Santoso, Venancia Sri Indrijati W, Dr dr Mohammad Adib Khumaidi, and Prof Lindawati Gani as Commissioners.
Irwan’s return as CEO is a key part of the leadership transition phase towards the fourth generation of the Hidayat family.
Irwan emphasised that his leadership this time will focus on ensuring the relay process runs smoothly. He, along with other family members, will prepare the company’s foundation before handing it over to the next generation.
As the third generation that has built the company for decades, Irwan stressed that this transition is not merely a change of positions, but an effort to maintain the continuity of the company’s values and culture.
To that end, Irwan targets that within the next year, Sido Muncul can have a more mature governance system, even on par with companies in advanced countries like Singapore.
Secondly, improving procurement efficiency, purchasing, and inventory management through an internal digital system called Sido Monitoring Real Time (SMART). This system is designed to enhance transparency while curbing potential leaks.
In addition, the company will launch the Sido Herbal Pedia app on 23 April 2026 as part of a digital transformation targeting consumers directly.
Thirdly, expanding the export market by adapting products to regulations in destination countries. Fourthly, increasing product sales, especially in the health supplement segment, which is the company’s mainstay.
Fifthly, encouraging the public to participate in share ownership through the ‘Nabung Saham’ campaign.
‘We want the public to see shares as savings. If the logic is right, the results will follow,’ said Irwan.
Director of PT Ina Sekuritas Indonesia, Budiman Satrio Sudono, welcomed the idea positively and invited various parties to support the ‘Nabung Saham’ movement.
According to him, the idea is important for encouraging the public to start investing consistently as part of national economic development.
The ‘nabung saham’ approach is seen as able to encourage the public to be more patient in investing and not easily influenced by market fluctuations.
‘This idea is very good and needs to be supported together. With the habit of saving in shares, our capital market can become healthier and stronger in the future,’ said Budiman.
If previously stock was at around 2–3 months, now it is targeted to be 21 days. This step is seen as able to improve capital efficiency and maintain the company’s cash flow health.
‘This efficiency is also carried out to ensure product distribution remains healthy and there is no stock buildup in the market,’ said Irwan.
In addition, the company consistently maintains competitiveness through a science-based approach and strengthened research, so consumer trust remains intact.
Sido Muncul’s Marketing Director, Maria Reviani Hidayat, added that all company steps are part of efforts to maintain the continuity of company values.