Indonesian unicorn Bukalapak has appointed chief strategy officer (CSO) Teddy Oetomo as its president, according to people familiar with the matter.
Bukalapak CEO Rachmat Kaimuddin is said to have made the announcement in an internal mail to employees on Monday, the people mentioned above said.
DealStreetAsia has reached out to Bukalapak for comment.
Oetomo will replace former president and co-founder Muhammad Fajrin Rasyid, who stepped down on June 20 and joined Indonesia’s largest telecom operator Telekomunikasi Indonesia (Telkom) as director of its digital business.
Rasyid became the third executive to step down from Bukalapak, following his other co-founders Achmad Zaky (former CEO), who resigned in December last year, and Nugroho Herucahyono (former CTO), who stepped down in April.
Rasyid’s move marked the exit of all three co-founders of Bukalapak.
Before joining Bukalapak, Oetomo served as head of the intermediary business at global asset management firm Schroders for three years. He worked for over eight years at Credit Suisse and as a lecturer at the University of Sydney for five years.
Some top executives to have joined the unicorn recently include former BBM CTO Mohan Krishnan as Bukalapak’s technology SVP; former Amazon senior software development manager Mohammad Alabsi as its VP of Engineering; former Adidas global brand communications lead Erick Wicaksono as the head of the marketing team; and former Commonwealth Bank Indonesia HR chief Bagus Harimawan as the chief of talent.
Last year, the e-commerce giant made headlines when the firm raised an undisclosed amount of funding in Series F round from South Korea’s Shinhan Group, Indonesian media conglomerate Emtek, and an undisclosed global institutional investor in early October.
Currently, Bukalapak has more than 92 million active users across the country. It currently serves over 2.5 million mom-and-pop shops and individual agents.