SSMS Taps Former Bourse Head in Continuing Move to Strengthen Corporate Governance

PT Sawit Sumbermas Sarana Tbk (SSMS) announced today that it has appointed former Indonesian Stock Exchange president director Ito Warsito as a commissioner in a move to further strengthen its corporate governance practices.

“We are thrilled to have Ito join the Board of Commissioners,” said SSMS CEO Vallauthan Subraminam. “He brings with him more than 30 years of experience and insight in business and finance in Indonesia”

Ito graduated from Harvard Business School in 1994 with Masters in Business Administration. He held strategic positions in various investment companies before serving as president director of the Indonesian Stock Exchange in 2009-2012 and 2012-2015 periods. Ito is also a member of the Indonesia Financial Services Authority Audit Committee and the Indonesian Institute of Chartered Accountants National Executive Committee.

Vallauthan said that SSMS has already made much headway in instituting strong corporate practices. In September 2018, for instance, PT AJA Sertifikasi Indonesia, an independent auditor, awarded SSMS with a certificate for its human rights management system. It did so after assessing SSMS’s system against Business and Human Rights International Standards for Certification (BHRISC 2011), a set of requirements accredited by The Foundation for International Human Rights Reporting Standards (FIHRRST).

“We believe that a good business is a business that is sustainable and respects the human rights,” said Vallauthan. “We are excited to receive a certification which is in line with the United Nations’ Guiding Principles on Business and Human Rights.