Leak of Newly Elected BEI Board of Directors, OJK: No Later Than 22 June

The Financial Services Authority (OJK) states that the selection process for the new board of directors of PT Indonesia Stock Exchange (BEI) is entering a crucial stage. The announcement of the selected names will be made about a week before the Annual General Meeting of Shareholders (AGMS). The Executive Head of Capital Market, Derivatives Finance, and Exchange Supervision at OJK, Hasan Fawzi, said that the selection process is still ongoing. He revealed that there are two packages of director candidates that have been submitted and are currently undergoing administrative verification. “No later than one week before the exchange’s AGMS (BEI), if I’m not mistaken the AGMS is on 29 June, so no later than 22 June we will announce it,” Hasan Fawzi stated when met in Jakarta on Monday. He explained that the registration period for BEI director candidates is still open until 4 May 2026. After that, OJK has about one and a half months to screen and determine the best director composition to lead BEI for the next four years. The selection process is taking place amid significant dynamics in the domestic capital market. OJK has formed a selection committee to identify the best candidates for BEI directors, PT Indonesia Securities Clearing and Guarantee Corporation (KPEI) directors, and PT Central Securities Depository Indonesia (KSEI) commissioners. Hasan hopes that with the timeframe of around 1.5 months from the closure of the registration period to the announcement target, they can determine the best director composition to manage and develop BEI. He urged prospective directors to truly understand the duties they will undertake amid various market challenges and increasingly complex global economic conditions. OJK places high hopes on the new BEI board of directors to strengthen synergy in driving reforms and deepening the national capital market. “We at OJK want to ensure there is the best exchange director partner (BEI) who can guide the integrity reform agendas and market deepening agendas that we have initiated at OJK together with all capital market stakeholders,” said Hasan Fawzi. Furthermore, Hasan mentioned that the composition of the five director candidates will reflect representation from various capital market stakeholders, ranging from exchange members (AB), issuers, professionals, to regulators.