Indonesian digital ecosystem GoTo has announced that CEO Patrick Warujo Sugito will remain in his role until 2029.
This decision comes as GoTo reported significant financial improvement and positive adjusted EBITDA under Patrick’s leadership.
In the third quarter of 2024, the group’s core gross transaction value (GTV) increased by 74% year-on-year to Rp. 72 trillion, and total revenue increased by 34% to Rp. 4.7 trillion.
Monthly Transacting Users (MTU) also increased by 21% over the same period.
GoTo’s board approved a performance-based retention package as part of the deal to extend Patrick’s term.
The company is said to be on track to achieve positive adjusted EBITDA in the fourth quarter of 2023 and maintain this through 2024.
GoTo CEO Patrick Warjo said:
“It has been a great honor to lead GoTo for the past 18 months and I am proud to entrust our long-term future to the company. , a great confidence in the vision and efforts to drive Indonesia’s digital transformation.
As a company, we are uniquely positioned to shape Indonesia’s technology future, empowering businesses, improving everyday lives and meaningfully contributing to the Indonesian economy. ”
Agus D.W. Martowardho, GoTo Director General, said:
“The company’s outlook has changed during Mr. Patrick’s tenure as CEO, and it is now poised to deliver long-term benefits to shareholders and other stakeholders. We have achieved this goal for the full year 2024. At the same time, growth and profitability continue to trend upward.
I therefore proudly welcome Mr. Patrick’s intention to commit his long-term future to the company and look forward to working with him to further enhance the interests of our stakeholders over the coming years. ”
Featured image credit: Edited from freepic
