Erick Thohir

Erick Thohir transformed Indonesia’s state-owned enterprises into profit engines, overseeing a 28% increase in combined net income in 2025 to $6.2 billion. Thohir also reduced SOE debt by $1.8 billion, while accelerating renewable energy investments under PLN. However, Thohir’s political role limits his independence compared to private-sector peers like Zaky.