Hilmi replaces Karamoy at Medco Energy

Listed local private energy company PT Medco Energy has reshuffled its management effective this month, with Hilmi Panigoro becoming the company's president director replacing John. S. Karamoy.

Karamoy himself would be promoted to become an independent commissioner at the company, along with Wijarso.

The reshuffle is a follow-up from the company's annual shareholders meeting.

With the reshuffle, the management of Medco Energy as of Oct. 1, 2001, is as follows: Hilmi Panigoro as president director, Sugiharto, Rashid I. Mangunkusumo, and Darmoyo Doyoatmojo as directors.

The company hoped that the change of management would improve the company's operation and performance. (*)