Queljoe quits Lippo

Queljoe quits Lippo

JAKARTA (Reuters): The American president of Indonesia's Lippo
Securities has resigned and the position is currently vacant, a
company official said yesterday.

Charles L. de Queljoe was due to leave for the United States
on Tuesday, said Jos Parengkuan, a Lippo Securities director who
added that Queljoe had resigned at his own request and was
expected to take up other appointments in the group.

Parengkuan said the resignation was not connected to the
country's current economic crisis and the sharp fall of the
rupiah against the dollar, which has made payment for expatriates
more expensive.

Lippo Securities, one of Indonesia's largest brokerages,
recently said it had laid off most of its expatriates due to the
fall in share transactions.

Parengkuan said Queljoe was expected to be appointed new
commissioner for Lippo Securities and a representative for the
Lippo Group in the United States.