Gudang Garam has new CEO

SURABAYA (JP): Publicly listed clove cigarettemaker PT Gudang Garam announced on Friday the appointment of former finance director Djajusman Surjowidjono as the new president of the company.

Djajusman replaces Rachman Halim, who now becomes the chief commissioner. The company also named Yudiono Muktiwidjono, Mintarya and Susilo Wonowidjojo as vice president respectively, all of whom, together with the other newly appointed directors, will serve for a five-year term in their positions.

The reshuffle is among the results of the company's annual shareholders meeting on Friday, which also approved the payment of Rp 962 billion (US$120 million) in dividends for 1999, or Rp 500 per share.

Gudang Garam, which produced 71.1 billion cigarettes last year, reported a full 1999 net income result of Rp 2.27 trillion, up from Rp 1.1 trillion earned in 1998. (nur/cst)