TradeBriefs Editorial

From the Editor's Desk

How to Build a C-Suite in Less Than Two Years

In 2017, Indonesian state-owned giant Pertamina had two ambitious strategic objectives: Transition from oil and gas to a more diverse portfolio including renewables, and entrench itself deeper in the global market.

But there was a problem. Thanks to a remarkably low retirement age of 56 for Indonesian SOEs, the organisation - one of the nation's largest, with more than 31,000 employees - would be losing nearly all its top leaders within a few years. Worse still, a past hiring freeze that lasted more than a decade had left a plunging experience gap between the highest-ranking company directors and their appointed successors.

In order to meet its audacious goals for the future, Pertamina would have to prepare hundreds of second-tier leaders to assume command before the retirement window closed. That meant cramming up to 15 years of missing experience into a two-to-three-year timeframe. For SOEs, which are not known for their agility, this was a tall order to say the least.

To tackle the challenge, Human Capital Director Nicke Widyawati (promoted to CEO in 2018) and Senior VP for Human Capital Ihsanuddin Usman developed the concept for Catalyser, the largest leadership accelerator in Southeast Asia.

Continued here


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