Three Months as CEO of PT Pos Indonesia: Daud Joseph's Findings

Daud Joseph has resigned after three months as CEO of PT Pos Indonesia (Persero). He was appointed as managing director of PT Pos based on shareholders’ decision Number 168 Year 2026/SK.065/DI-DAM/DO/2026 dated 11 March 2026. On 2 July 2026, PT Pos received Joseph’s resignation letter. “The reason for the resignation is purely the individual’s personal desire and considerations,” said Corporate Secretary Iwan Gunawan in a written statement.

A day later, the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) revealed that Joseph had been tasked with leading the process of overhauling PT Pos Indonesia through a thorough due diligence of the company’s financial, operational, governance, and organisational conditions. “Based on the results of that assessment, he conveyed that PT Pos Indonesia requires a comprehensive and fundamental revamp. According to him, the complexity of the issues faced and the future restructuring agenda require more specific expertise to lead the next phase of transformation,” said Managing Director of Stakeholders Management & Communications Rohan Hafas.

Rohan explained that the due diligence process uncovered various financial and governance issues that had accumulated over many years. The agency also received reports and found indications of various irregularities, including alleged financial engineering, which are currently being followed up through audit and investigation mechanisms in accordance with applicable regulations. “What needs to be understood is that PT Pos Indonesia is currently being thoroughly reformed. From the ongoing due diligence and evaluation process, we found various financial and governance issues that have accumulated over the years,” said Rohan. He added that the issues burdening the company must be resolved one by one, with no room for practices that damage corporate governance, and all findings will be followed up professionally, transparently, and in accordance with legal processes.

Prior to his resignation, Joseph attended a meeting with Commission VI at the Indonesian House of Representatives building in Jakarta, where he stated that PT Pos’s operating revenue plummeted by 20% in 2025 to Rp3.9 trillion. “From the target that year of Rp6.2 trillion, only about 63% was achieved. This resulted in gross profit not reaching the target of Rp2.4 trillion, only achieving Rp1.5 trillion,” he said. Consequently, EBITDA or net income fell far short of the Rp800 billion target, reaching only Rp300 billion. The most significant decline was in the logistics business portfolio, which dropped from Rp2 trillion the previous year to around Rp600 billion. Joseph noted this was due to the absence of food and rice distribution programmes. Courier logistics services for items under 30 kilogrammes remained stable at Rp1.8 trillion, while financial services such as pensions, credit, and bill payment transfers held steady at Rp1.2 trillion. Property services saw a slight increase but contributed minimally.

Joseph explained that over the past five years, the company’s financial performance had been positive due to government projects. Revenue rose from Rp5.4 trillion in 2020, driven by the distribution of social assistance, rice aid, and food aid. However, when government project contributions fell to Rp300 billion in 2025, total revenue dropped sharply to Rp3.9 trillion, highlighting the company’s over-reliance on state projects and its struggle to return to its core business potential.