GoTo Group’s massive leadership shakeup that will see private equity firm Northstar Group managing partner Patrick Walujo taking over as the new CEO, replacing Andre Soelistyo, is expected to prepare the Indonesia-listed tech giant for a faster move towards profitability and an eventual public offering in the US.
According to multiple sources aware of the matter, after assuming charge, Walujo’s main focus will be on cost-cutting measures, driving synergies, and shutting down divisions that are not core to GoTo’s future. He will also double down on critical verticals, including food delivery, that can help the company get to profitability and not lose market share to competitors.