Golden Agri Resources : announces new leadership team to deliver added-value over the next decade

Golden Agri-Resources (GAR), one of the world's leading integrated palm-based agribusinesses, announced a new executive leadership team, with Tony Kettinger's appointment as Chief Operating Officer.

Mr Kettinger joins GAR from Cargill where he was Group Managing Director, responsible for its palm and coconut oils business, agriculture supply chain strategy and business development in Asia-Pacific. He brings 25 years of wide-ranging and substantial experience in the commodities sector, including 14 years in commercial and management positions in China, and experience in North and South America. Mr Kettinger has been based in Singapore for the last four years.

GAR Chairman and CEO Mr Franky O. Widjaja said, 'The challenge for GAR and all commodity-based businesses is to maximise value at every stage of production. Over the last decade, GAR has invested in developing our downstream capabilities to derive more value from our plantation base. Looking to the next decade and beyond, adoption of technology coupled with a focus on innovation, will help us meet customer needs. In a competitive global market, the addition of Tony's expertise and experience, GAR will realise the full potential of our investments.'

Tony Kettinger said, 'I am looking forward to joining a company of Golden Agri-Resources' calibre. GAR is a well-established leader in sustainable palm oil production, and I am excited to build on this excellent foundation to help the company realise its potential, beyond the plantation.'

As COO, Mr Kettinger will drive operational and functional excellence across the company, with a primary focus on the downstream business. He will report directly to Chairman and CEO, Mr Franky O Widjaja, and to Paul Hickman on commercial matters.

The executive leadership team includes Irwan Tirtariyadi, who takes over from Jo Daud Dharsono to lead GAR's principal Indonesian subsidiary, PT SMART Tbk. Mr Dharsono is stepping back after 35 and a half years as a key figure in the Indonesian industry and GAR's plantation business.

Speaking about Mr Dharsono's contribution to the company, Mr Widjaja said, 'Pak Daud has been a driving force in the growth and success of our plantation business. His contribution has helped build the foundation on which we will build decades more success. I am delighted that we will continue to draw on his expertise in an advisory role and to mentor the next generation of palm industry leaders, for the foreseeable future.'

Irwan Tirtariyadi joined GAR as Deputy Head of Upstream a year ago, and brings a wealth of operational experience, primarily in the agribusiness and resources sectors.

After eight years as Head of Downstream, Hemant Bhatt is taking semi-retirement for personal reasons. Mr Bhatt has played an instrumental role in GAR's strategy of downstream investment to develop an integrated, global business.

Paul Hickman takes on the Head of Downstream role, from his current position as MD - Global Vegetable Oils & Oilseeds. GAR aims to continue growing its market access, offering sustainable, innovative solutions to meet customer needs in the food, fuel, personal care and animal feed sectors.

Irwan Tirtariyadi and Paul Hickman both report to the Chairman & CEO, Franky O. Widjaja.

All changes are effective 6 January 2021.

ENDS

About Golden Agri-Resources Ltd (GAR)

GAR is one of the leading palm oil plantation companies with a total planted area of 499,770 hectares (including plasma smallholders) as at 30 September 2020, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat. Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$1.3 billion as at 30 September 2020. Flambo International Limited, an investment company, is currently GAR's largest shareholder, with a 50.52 percent stake.

GAR has several subsidiaries, including PT SMART Tbk which was listed on the Indonesia Stock Exchange in 1992. GAR is focused on responsible palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products throughout the world. It also has operations in China and India including a deep-sea port, oilseed crushing plant, production capabilities for refined edible oil products as well as other food products such as noodles.

For more information, please contact:
Anita Neville
Senior Vice President, Group Corporate Communications
[e-mail]