Patrick Walujo, President Director of PT GoTo Gojek Tokopedia Tbk (GOTO), has been named Best CEO in Asia 2025 in the internet sector (excluding China) by global research firm Extel.

According to Warta Ekonomi, this prestigious award is based on a survey of 6,300 investors, investment managers, and analysts from 1,324 leading financial institutions worldwide.

Alongside this, GoTo was recognized as the Most Honored Company in Asia in the same category, showing strong confidence from the financial community.

These honors highlight the significant transformation GoTo has undergone under Walujo’s leadership.

GoTo Achieves Highest-Ever Profitability Under Walujo's Direction

GoTo’s financial performance has improved significantly. The company showed consistent growth and a notable increase in profitability, which has attracted global market attention.

In the same survey, GoTo’s Chief Financial Officer, Simon Tak Leung Ho, was named one of the Best CFOs in Asia in the internet sector (excluding China).

Extel credits Patrick Walujo with major transformations that increased GoTo’s profitability, a critical achievement for the company.

Strategic Milestones and Financial Performance in 2024–2025

Patrick Walujo officially became CEO after the Extraordinary General Meeting of Shareholders on June 30, 2023. Since then, GoTo’s parent company has seen marked financial improvement.

In 2024, GoTo recorded a positive adjusted Group EBITDA of IDR 313 billion, surpassing its break-even goal for the first time.

In Q1 2025, the adjusted Group EBITDA rose further to IDR 393 billion, the highest in the company's history.

GoTo prefers using adjusted Group EBITDA as a performance measure because it better reflects its operating cash flow, while other income may be non-cash or non-recurring.

For fiscal year 2025, GoTo forecasts an adjusted Group EBITDA of IDR 1.4 to 1.6 trillion. The company will report its Q2 2025 performance on August 13, 2025.

Patrick Walujo’s Career and Professional Background

Patrick Walujo co-founded Northstar Group in 2003, which is now a leading private investment firm in Indonesia.

As reported by the World Economic Forum, before that, from 2000 to 2003, he was Senior Vice President at Pacific Century Ventures Ltd. in Tokyo, playing a key role in mergers, acquisitions, and business development.

He graduated from Cornell University with a degree in Operations Research and Industrial Engineering.

Patrick started his career at Goldman Sachs & Co. in London and New York from 1997 to 2000.

He currently serves as a Commissioner for PT Indosat Tbk and PT Duta Intidaya Tbk and is a member of the International Advisory Board of the Council on Foreign Relations, New York.

He also holds a position in the Indonesian Chamber of Commerce and Industry (Kadin), focusing on Human Capital, Research, and Innovation.

Patrick has received several recognitions, including Young Entrepreneur of the Year (2009) from Ernst & Young and Businessman of the Year (2021) by Forbes Indonesia.

Patrick Walujo’s Leadership Achievements at GoTo

Patrick Walujo’s commitment to lead GoTo until 2029 has been well-received by the market.

According to CNBC Indonesia, analysts highlight his success in transforming GoTo during a short period since his appointment as CEO in June 2023.

Under his leadership, GoTo achieved positive adjusted Group EBITDA twice in Q4 2023 and Q3 2024, signaling operational profitability improvements.

Patrick focused on strengthening two key business units: On-Demand Services (ODS) and GoTo Financial (GTF) to drive full-year profitability.

GTF’s financial technology unit was transformed from low monetization into a major growth and margin contributor.

Through cautious lending products like Buy Now Pay Later (BNPL) and ecosystem-based cash loans, GTF’s loan book tripled within a year and is expected to double by the end of 2025 compared to September 2024.

Despite growth, non-performing loans (NPL) remain low at around 1%, showing careful risk management.

Patrick also improved the e-commerce business by decoupling Tokopedia and forging a strategic partnership with TikTok Shop, creating more stable cash flow and recurring revenue through service fees.

Operational efficiency was enhanced through strategic cloud partnerships with Alibaba and Tencent, reducing cloud costs by up to 50%, directly impacting operating expenses and future profitability.

Alibaba, a major shareholder, has committed to holding GoTo shares until 2029, easing market concerns over potential stock overhang.

Analysts view Patrick’s leadership and long-term commitment as very positive signals for the company and the market.

PHOTO: GOTO GROUP

This article was created with AI assistance.