Indonesia-listed tech giant GoTo Group has announced the resignation of four executives from its Board of Directors and Board of Commissioners ahead of its upcoming annual general meeting of shareholders (AGM), according to a statement on Friday.
The company received resignations from Vice President Director Thomas Kristian Husted and Director Nila Marita Indreswari on April 30, according to the statement. Husted is expected to continue focusing on GoTo’s financial services arm, while Indreswari is departing to pursue personal interests.
On May 2, Commissioner Garibaldi Thohir and Director Pablo Malay also sent their resignations. Thohir is stepping down to concentrate on his family business, while Malay is slated to be nominated as a commissioner, subject to shareholder approval at the AGM.
The resignations will be effective pending formal acceptance by shareholders at the upcoming AGM, the date of which has yet to be disclosed.
In the same disclosure, GoTo said it plans to propose new appointments to its board, including an additional independent commissioner. The company noted that it will comply with relevant OJK regulations on board governance and shareholder meetings.
GoTo reiterated its commitment to strengthening corporate governance as it continues to execute on long-term growth plans.
Earlier this week, GoTo reported a net loss of 367 billion rupiah ($22 million) in Q1 2025, down from a loss of 937 billion rupiah ($56 million) in the year-ago quarter. Net revenue rose 4% year-on-year to 4.2 trillion rupiah in Q1 2025, while core gross transaction value (GTV) climbed 32% to 83.2 trillion rupiah.
Adjusted EBITDA rose to 393 billion rupiah, compared to a 146 billion rupiah loss in the same period of last year. On-demand services—comprising the mobility and delivery arms of the group—continue to be the company’s biggest revenue driver. In the first quarter of 2025, the segment posted an adjusted EBITDA of 314 billion rupiah, up 89% year on year.
GoTo Group CEO Patrick Walujo attributed the performance to improvements in revenue as well as enhanced cost efficiency across segments. “We’ve started the year with strong momentum, delivering another record-breaking and profitable quarter. This reflects the disciplined execution of our strategy and the strength of our ecosystem model,” Walujo said.
The company’s fintech arm—once just a non-core business vertical—is now at the forefront of its growth. In the March quarter, the fintech division logged its second consecutive quarter of positive EBITDA, reflecting both expansion efforts and two years of careful cost-cutting. The division recorded strong loan growth and high transaction volumes.
