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Former Elnusa CEO Elia Manik appointed as new Pertamina president director

JAKARTA ( – Elia Massa Manik, former President Director of oil and gas service company PT Elnusa, has been appointed as new President Director of state energy company Pertamina, replacing Dwi Sutjipto. Elia Manik’s appointment has been approved by the shareholder at the company’s shareholder meeting today (Mar 16).

Dwi and Ahmad Bambang, former deputy president director of Pertamina, were dismissed from their post at end January this year.

Elia Manik currently holds the post as President Director of plantation firm PT Perkebunan Nusantara III (holding). Prior to his current post, Elia held position as Chief Executive Officer of state owned paper company PT Kertas Basuki Rachmat Indonesia, and then holding the post as President Director of PT Elnusa, an oil and gas service company, in the period of July 2011-2014.

Elia has a long carrier path, working in various industries such as food, plantation, oil and gas services.

Elia began his carrier at PT Indofood Sukses Makmur and then joined Suez Group before joining PT Kiani Kertas (2001) and later PT Jababeka, an industrial zone operator in West Java.

Elia may have been appointed as CEO of Pertamina for his successful records in the corporate turnaround. One of his major successful corporate turnaround was Elnusa. At that time (2011), Elnusa still recorded net profit of Rp60 billion, but only on paper. The company has negative cashflow of Rp200 billion.

Therefore, he decided to launch major overhaul, including refinancing and wrote-off its debts. He also launched a program to change the corporate culture of Elnusa, into a more opened and transparent company. The efforts were fruitful as the company later on managed to transform into a more profitable company.

Elnusa was facing financial crisis after its deposits in Bank Mega amounting to Rp161 billion was withdrawn illegally by recalcitrant people, involving former executives of Elnusa and Bank Mega by forging documents. (*)

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