Three Retired Army Officers Appointed as CEOs of Major Indonesian Mining SOEs

Three retired Indonesian Army officers have been appointed to lead the country’s major state-owned mining enterprises. The appointments were confirmed during the Annual General Meetings of Shareholders for the 2025 financial year at PT Aneka Tambang (Antam), PT Bukit Asam, and PT Timah.

Untung Budiharto was named President Director of PT Antam on Wednesday, 10 June 2026. He had previously been appointed to the role during an Extraordinary General Meeting of Shareholders on 15 December 2025. According to the company’s official website, Budiharto previously served as President Commissioner of PT Transportasi Jakarta from 2023 to 2025 and as a Commissioner at PT Pertamina Power Indonesia in 2025. He is known to have been one of 11 members of the Army Special Forces Command’s ‘Mawar Team’ during 1997-1998, a unit involved in the abduction of pro-democracy activists during the New Order era. His background does not include formal education or a career in mining or business prior to his roles at Transjakarta and Pertamina.

Bambang Ismawan was appointed President Director of PT Bukit Asam on Thursday, 11 June 2026, replacing the previous director. A retired high-ranking Army officer, Ismawan had previously served as the company’s Independent President Commissioner for the 2025-2026 period. His military career included serving as Chief of General Staff of the Indonesian National Armed Forces.

Restu Widiyantoro assumed the role of President Director at PT Timah on Friday, 12 June 2026. The retired Army officer, who held the rank of Colonel, was initially appointed to the position during an Extraordinary General Meeting of Shareholders on 2 May 2025. His military career included roles as Commander of the Indonesian contingent for a UN peacekeeping mission and Inspector of the Mulawarman Regional Military Command. Prior to his appointment at Timah, he served as a Security Manager at PT Pertamina from 2016 to 2020.