Simon Ho
Indonesian tech giant GoTo Group has announced the appointment of Simon Ho as the new CFO, effective August 30.
He is replacing current CFO Jacky Lo.
Ho will be based in Indonesia, reporting to GoTo Group CEO Patrick Walujo and overseeing all finance and investor-related group functions.
Also Read: GoTo completes merger with TikTok Shop Indonesia
Ho will subsequently join GoTo’s Board of Directors, subject to shareholder approval at the next Extraordinary General Meeting of Shareholders (EGMS), which is scheduled for August 30.
A seasoned financial executive with over 25 years of experience encompassing financial management, corporate strategy, capital markets, and investor relations, Ho began his career in management consulting before moving into the financial sector. He has previously held senior roles at international banks, including Citigroup and ABN AMRO.
In the past, he also served as CFO at NYSE-listed fintech platform FinVolution Group in China and Filipino payment firm Maya.
Walujo, President Director at GoTo, said, “Simon’s broad experience and deep knowledge of financial markets will add significant value to our business as we drive GoTo towards sustainable growth. He will become a key member of our leadership team and will help ensure the company returns long-term value to our shareholders.”
GoTo is one of the largest digital ecosystems in Indonesia, offering technology infrastructure and solutions. The group provides a wide range of services, including mobility, food delivery, groceries and logistics, as well as payments, financial services, and technology solutions for merchants. In addition, it provides e-commerce services through Tokopedia and banking services through its partnership with Bank Jago.
Also Read: GoTo scores US$150M to boost financial inclusion, sustainability across Indonesia
In 2023, GoTo announced a partnership with TikTok following the Chinese company’s acquisition of the group’s e-commerce unit, Tokopedia, for US$840 million. The group claims it is close to achieving profitability and has increased revenues and improved cost efficiency. The firm aims to accelerate growth by reinvesting profit back into the business while planning to achieve adjusted EBITDA breakeven for the full year 2024.
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Image Credit: GoTo Group.
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