Mandiri Board Shake-Up: Spotlight on Riduan and Alexandra as CEO Race Heats Up

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JAKARTA, investortrust.id – PT Bank Mandiri Tbk is holding an extraordinary general meeting of shareholders (RUPSLB) today at 3:00 p.m. Jakarta time, with one high-stakes item on the agenda: the appointment of a new president director.

Speculation has intensified around two likely candidates—Riduan, the current Deputy President Director of Bank Mandiri, and Alexandra Askandar, Deputy President Director of PT Bank Negara Indonesia Tbk (BNI), who previously held top leadership roles at Mandiri.

The reshuffle marks a new chapter in state-owned banking governance, especially under the growing influence of BPI Danantara, Indonesia’s sovereign wealth fund that now holds shareholder authority. In the past, leadership changes were typically orchestrated by the Ministry of State-Owned Enterprises, but the power has since shifted to Danantara.

According to the Indonesia Stock Exchange (IDX) disclosure dated Sunday, Aug. 3, 2025, the RUPSLB will be held at the Assembly Hall of Menara Mandiri 1 on Jalan Jenderal Sudirman, Jakarta. One of the key points in the meeting is the revision of the company’s board structure.

Under Articles 11(10) and 14(12) of the company’s Articles of Association, board appointments and dismissals require shareholder approval during a formal meeting. Crucially, decisions must be approved by holders of the state-owned Series A Dwiwarna shares. Eligible shareholders are those registered in the Indonesian Central Securities Depository (KSEI) as of market close on Friday, July 11, 2025.

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Riduan vs. Alexandra

Riduan, a graduate of Sriwijaya University in Palembang where he also earned his master’s degree, has built his career at Mandiri since 1999. From 2016 to 2017, he served as Regional CEO II overseeing Sumatra and later became Senior Executive Vice President of Middle Corporate Banking.

He was promoted to Director of Commercial Banking in January 2019. Prior to his return to Mandiri, Riduan also served as Director of Finance and Investment at the national health insurer BPJS Kesehatan from 2013 to 2016.

Alexandra Askandar, born in Medan in 1972, began her executive career at Mandiri as Senior Executive Vice President for Corporate Banking between 2016 and 2018. She was later promoted to Director of Institutional Relations (2018–2019), followed by Director of Corporate Banking (2019–2020).

She earned her bachelor’s degree in economics from the University of Indonesia and completed her master’s studies at Boston University.

The current leadership lineup at Bank Mandiri was confirmed during its annual shareholders meeting on Mar. 25, 2025. Darmawan Junaidi retained his post as president director, with Riduan promoted to deputy, replacing Alexandra, who moved to BNI as deputy president director.

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Bank Mandiri’s Current Board Composition as of Mar. 25, 2025

Board of Directors

• President Director: Darmawan Junaidi

• Deputy President Director: Riduan

• Director of Corporate Banking: Mochamad Rizaldi

• Director of Commercial Banking: Totok Priyambodo

• Director of Treasury & International Banking: Ari Rizaldi

• Director of Network & Retail Banking: Jan Winston

• Director of Consumer: Saptari

• Director of Finance: Novita Widya Anggraini

• Director of Operations: Toni E.B. Subari

• Director of Information Technology: Timothy Utama

Board of Commissioners

• President Commissioner (Independent): Kuswiyoto

• Vice President Commissioner (Independent): Zainudin Amali

• Commissioner: Muhammad Yusuf Ateh

• Commissioner: Luky Alfirman

• Commissioner: Yuliot

• Independent Commissioner: Mia Amiati

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