Minister of BUMN Introduces New Talent and Succession Management Processes for BoD Members at BUMN

In a bid to provide a reliable and accountable appointment system for members of boards of directors (“BoD Members”) at State-Owned Enterprises (Badan Usaha Milik Negara – “BUMN”), the Minister of BUMN (“Minister”) has issued Regulation No. Per-11/MBU/07/2021 on Requirements, Appointment Procedures and Discharging Procedures for BoD Members at BUMN (“Regulation 11/2021”). This regulation repeals and replaces the previous framework of Regulation No. Per-03/MBU/02/2015, which bore the same title (“Regulation 3/2015”).[1]