Dian Siswarini, the President, Director, and CEO of PT XL Axiata Tbk (EXCL), has resigned from her position on December 3, 2024, citing personal reasons. The news was confirmed in an official disclosure to the Indonesia Stock Exchange (IDX), stating that her resignation will take effect after approval from the next General Meeting of Shareholders.

Siswarini, who has been with the company for nearly three decades, first joined XL Axiata in 1996. She was appointed CEO in 2015, following an Extraordinary General Meeting. Under her leadership, XL Axiata made significant strides in the telecommunications sector, focusing on digital services and network expansion.

Her resignation comes at a time when XL's parent company, Axiata Group, is reportedly exploring a merger between XL and PT Smartfren Telecom Tbk (FREN), a subsidiary of Sinar Mas. This move has raised questions about the future direction of XL Axiata and the strategic role the company will play in the rapidly evolving telecom landscape.

Siswarini's career in the telecom industry began in 1991, and she has held several important positions at XL Axiata, including Director of Network in 2007 and Director of Digital Services in 2011. Her departure marks the end of an era for the company, and the decision to leave comes at a pivotal moment in XL Axiata's journey, especially with talks of a potential merger with Smartfren.

The resignation of such a high-profile figure in the Indonesian telecom industry has caught the attention of both investors and industry analysts. XL Axiata has yet to comment on the immediate impact of Siswarini's departure, but many are watching closely to see how the company will move forward in light of these developments.

In the coming months, the company will need to focus on maintaining stability and continuing its digital transformation efforts as it faces growing competition in the telecom sector. The merger talks with Smartfren, if it proceeds, could reshape the telecom landscape in Indonesia, bringing both opportunities and challenges for XL Axiata in the future.

As the telecom sector continues to evolve, businesses like XL Axiata will need strong leadership to navigate the changing market dynamics and capitalize on emerging trends such as 5G, digital services, and new business models. For now, all eyes will be on the upcoming shareholder meeting, where the company's next steps will be decided.

CNBCINDONESIA