Medco appoints new finance director

Medco appoints new finance director

JAKARTA: Medco Energy International named Darmoyo Doyoatmojo
as its new chief financial officer to replace incumbent State
Minister of State Enterprises Sugiharto, who joined the company
in 1974.

In a shareholders meeting on Thursday, Medco also appointed
Hilmi Panigoro as the chief executive officer/corporate secretary
and Rashid I. Mangunkusumo as chief operating officer.

The changes in Medco Energy management is due to changes in
the ownership of the company's shares. After buying back shares
over a period of time, the Panigoro family now owns 100 percent
of Medco Energy.

"The Panigoro family is strongly committed to continuing with
the implementation of good corporate governance within
Medco Energy to ensure the company's growth in the future," the
company said in a statement on Thursday. -- JP