Despite Becoming INA Heads, Oki and Laksono Remain in BEI Director Candidate Pool

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has confirmed that the number of candidate director packages for the Indonesia Stock Exchange (BEI) remains four, although several names have since taken positions at other institutions. Hasan Fawzi, Executive Director of the Capital Market Supervisory, Financial Derivatives, and Carbon Exchange, said all four director packages remain valid and eligible to proceed to the final stage of the selection process. As a reminder, Oki Ramadhana, the former President Director of PT Mandiri Sekuritas and former BEI Commissioner, and Laksono Widodo, the former President Director of PT BRI Danareksa Sekuritas, have just been inducted as directors of the Indonesia Investment Authority (INA) on Tuesday (19 May 2026). Oki was appointed Chair of the Board of Directors and Chief Executive Officer (CEO) of INA, while Laksono serves as a member of the Board of Directors and Chief Investment Officer (CIO). “The four packages remain. So the four packages are, by regulation, still valid, meaning eligible and fit to continue the entire selection process to the final stage,” Hasan said when met at the Indonesian Parliament building in Jakarta on Thursday (21 May 2026).

Hasan explained that all candidates within the four packages have been summoned to undergo the fit and proper test by the selection committee of OJK. He noted that the assessment is performed per position because seven board seats are being contested. “Because there are four packages and seven board seats, we split by position. So seven working days have already been conducted since last week,” he said. He hopes that by the end of this week all 28 BEI director candidates from the four packages will have completed the fit and proper testing before the OJK selection committee.

Furthermore, Hasan emphasised that Oki and Laksono’s current INA roles do not automatically disqualify them from BEI candidacy. As long as the candidates’ names remain listed in their respective package and they continue to participate in the selection process, they are still considered eligible. However, he stressed that each candidate retains the right to withdraw at any time if they decide not to proceed with the selection. “Ultimately, it is up to each candidate whether to continue to the end or inform us that they are not proceeding with their nomination,” he said.

Hasan also reminded of the rule prohibiting dual roles for BEI directors as stipulated in POJK. However, that prohibition only becomes effective when a candidate is officially appointed as a BEI director at the BEI General Meeting of Shareholders (RUPS). In addition, Hasan asserted that the selection process is conducted on an individual basis rather than by package. “Applications are made by package, but the selection is done per position and per candidate,” he said.

Moreover, the OJK has the flexibility to place a candidate in a different position if during the fit and proper test they are deemed more suitable for another role. Hasan also stated that if a candidate within a package withdraws, the package does not automatically fail. “Only the individual candidate withdraws; the package can still proceed,” he said.

The BEI General Meeting of Shareholders (RUPS) to determine the new board composition is scheduled for 29 June 2026. (mkh/mkh)