Jakarta. Jahja Setiaatmadja confirmed on Thursday that his retirement as President Director (CEO) of Bank Central Asia (BCA), Indonesia’s largest private bank, has been formally approved by the Financial Services Authority (OJK). He will transition to a new role as President Commissioner of the bank.

His successor, Hendra Lembong, is a seasoned banker who has served as BCA’s Vice President Director since 2022. The leadership handover will take effect on June 1.

Hendra, 53, was appointed as the new CEO during BCA’s annual general meeting of shareholders on March 12. At the same meeting, Jahja was named to succeed Djohan Emir Setijoso as President Commissioner. Both Jahja and Djohan have held their respective roles since 2011.

As required by regulation, the appointments were subject to OJK’s fit-and-proper assessment process.

"We have completed the fit-and-proper tests, and the OJK has approved the appointments. I am confirmed as President Commissioner, Mr. Hendra Lembong is cleared to serve as President Director, Mr. John Kosasih is approved as Vice President Director, and Mr. Hendra Tanumihardja has been authorized to join as a Director," Jahja said in Jakarta.

He added that while he remains CEO until the end of May, the leadership baton will officially pass to Hendra starting June 1.

"I’m still the CEO today, but starting June 1, Mr. Hendra will represent BCA at press briefings and meetings with analysts. I’ll be stepping aside as CEO, but we’ll meet again in my new role as President Commissioner," he said.

BCA’s New Board Structure
Effective June 1, following the March 12 shareholders’ meeting:

Board of Commissioners:

• Jahja Setiaatmadja (President Commissioner)
• Tonny Kusnadi
• Cyrillus Harinowo
• Raden Pardede
• Sumantri Slamet

Board of Directors:

• Hendra Lembong (President Director)
• Armand Wahyudi Hartono (Vice President Director)
• John Kosasih (Vice President Director)
• Subur Tan
• Hendra Tanumihardja
• Rudy Susanto
• Lianawaty Suwono
• Santoso
• Vera Eve Lim
• Haryanto Tiara Budiman
• Frengky Chandra Kusuma
• Antonius Widodo Mulyono