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2016-03-01T00:00:00.000Z

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Wrong Emirsyah Satar?

Mr. Emirsyah Satar

Various Key Managerial Positions

Citibank

HQ Phone: (212) 559-1000

Citibank

399 Park Avenue

New York, New York 10043

United States

Company Description

Citibank is the world's biggest provider of private banking, and specializes in offering custom solutions from all areas of finance. more

Find other employees at this company (17,314)

Background Information

Employment History

President and Chief Executive Officer
PT Bank Danamon Indonesia Tbk

Affiliations

Member of the Board of Commissioners
Jan Darmadi Group

Member of the Board of Trustee
The Nature Conservancy

20th Member
SkyTeam

Board of Governors
Member IATA

Member of Board of Trustees
Asia Business Council

Vice Chairman
Kadin Corporation

Member of the Board of Governors
International Air Transport Association

Chairman of the Executive Committee
Association of Asia Pacific Airlines

Education

accomplished diploma programs

Sorbonne University

degree
Accounting
Universitas Indonesia

degree
accounting
University of Indonesia

diploma programs

Sorbonne University

Web References (199 Total References)


Education — Indonesia Now – Career Jobs Culture Education Lifestyle

indonesia-now.com [cached]

Highlight on Education & Business: When appointed as the President and CEO of Garuda Indonesia in March 2005, Emirsyah Satar become one of the youngest Chief Executive Officers of an airline in the Asia Pacific region.

He brought into the company a wealth of knowledge in banking and financing. Mr. Satar began his career in the financial industry as an auditor at Price Waterhouse Cooper. He quickly assumed key positions in several multinational companies in Citibank N.A., Jan Darmadi Group, Niaga Finance, Hong Kong and Bank Danamon Tbk.


Indonesia Now – Career Jobs Culture Education Lifestyle

indonesia-now.com [cached]

Highlight on Education & Business: When appointed as the President and CEO of Garuda Indonesia in March 2005, Emirsyah Satar become one of the youngest Chief Executive Officers of an airline in the Asia Pacific region.

He brought into the company a wealth of knowledge in banking and financing. Mr. Satar began his career in the financial industry as an auditor at Price Waterhouse Cooper. He quickly assumed key positions in several multinational companies in Citibank N.A., Jan Darmadi Group, Niaga Finance, Hong Kong and Bank Danamon Tbk.


Highlight on Education & Business: When ...

indonesia-now.com [cached]

Highlight on Education & Business: When appointed as the President and CEO of Garuda Indonesia in March 2005, Emirsyah Satar become one of the youngest Chief Executive Officers of an airline in the Asia Pacific region.

He brought into the company a wealth of knowledge in banking and financing. Mr. Satar began his career in the financial industry as an auditor at Price Waterhouse Cooper. He quickly assumed key positions in several multinational companies in Citibank N.A., Jan Darmadi Group, Niaga Finance, Hong Kong and Bank Danamon Tbk.
In 1998, Emirsyah Satar returned to Indonesia to become EVP Finance (CFO) for Garuda Indonesia. During that time, he played a major role in the airline's financial restructuring process carried out in 2001, which amounted to US$ 1.8 billion. Thanks to invaluable banking and finance experience, he was instrumental in helping Garuda Indonesia avoid bankcruptcy. In recognition of this achievement he received "Financial Restructuring of the Year" from New York "Travel Finance" magazine.
Mr. Satar left the company in early 2003 and was appointed as Deputy CEO of Bank Danamon Tbk (5th largest Indonesian bank at that time). In 2005, he was re~appointed by the Indonesian government as President & CEO of the Garuda Indonesia (flag carrier of Indonesia).
Under Emirsyah Satar's leadership, the airline has been recognized by SkyTrax, a prominent airline rating institution, as 'the World's Most Improved Airline 2010', 'the World Best Economy Class 2013', 'the World's Best Cabin Crew 2014', and ranked #7 of 'the World's Best Airlines'. Just before he resigned as the CEO in December 2014, Garuda Indonesia was awarded as one of only 7 airlines in the world whose quality of service is qualified as the Five~Star Airline SkyTrax. Image Courtesy of Garuda Indonesia.
IPMI 3a Mr. Satar is currently Chairman of MatahariMall.com (an e-commerce company recently launched by the Lippo Group) and also Executive Director of Lippo Group. He also serves as an Independent Commissioner at PT Bank Danamon Indonesia Tbk., Honorary Advisor to the Indonesia Minister of Tourism and as a member of Advisory Board of idEA (Indonesia E-commerce Association). He is also Vice Chairman of KADIN (Indonesia Chamber of Commerce) and Senior Advisor of INACA (Indonesia Airlines Association).
Emirsyah Satar received his degree in Accounting from the University of Indonesia and complete academic programs at Sorbonne University in Paris. He speaks English, French, Spanish in addition to his mother tongue, Bahasa Indonesia.
In carrying out its mission of inspiring leaders to be pioneering and mind~shaping in creating impact to the global society, IPMI International Business School conducts monthly discussion sessions of Power Talk, featuring prominent speakers who are experts in their particular fields.
We cordially invite you to attend the IPMI Power Talk event with Emirsyah Satar, Chairman of MatahariMall.com (former President & CEO of Garuda Indonesia).


Rome Conference - Session Details

rome.strategicmanagement.net [cached]

Emirsyah Satar, Garuda Indonesia

...
photo of Emirsyah Satar
Emirsyah Satar was appointed as President & CEO of Garuda Indonesia in 2005. He first joined Garuda Indonesia in 1998 as an EVP Finance, overlooking the Company's entire financial restructuring process. Garuda Indonesia (Persero) is the first and largest carrier in Indonesia, flying vast domestic and international destinations. With its service-oriented approach, Garuda Indonesia aims at becoming the leading service provider for air travelers and air cargo shippers in the nation and the world. He previously assumed various key managerial positions at Citibank NA., Jakarta and Niaga Finance in Hongkong. Emirsyah Satar has a Degree from the University of Indonesia and Sorbonne University in Paris.


The Electric New Paper - The Electric New Paper News

newpaper.asia1.com.sg [cached]

Mr Emirsyah Satar told The New Paper in a phone interview from Jakarta: 'These (the mega resorts) will result in growth in this region which is very promising, especially for the airline business.And we will continue trying to tap this market.'

The Singapore market is very important for Garuda, he said.
'We have 12 flights a day there and it has been a good route.The growth in this region is very promising.'
Garuda is in urgent need of reversing its fortunes.
Mr Satar has taken over leadership of Garuda Airlines at a time when Indonesia's national airline is over US$800 million ($1.3billion) in debt.
...
Earlier this year, the Indonesian government turned to Mr Satar to save the airline.
The old board of management was sacked.
With a brand new team, Mr Satar is under immense pressure to help the company - dubbed by Wall Street Journal as Asia's weakest-performing airline - soar again.
Blaming Garuda's former management for financial mismanagement, State Enterprises Minister Sugiharto said he expected the 'the new management to... lift Garuda's performance'.
It is a mission that Mr Satar acknowledges will be turbulent.
'More than half of the routes we fly are losing money.We have negative cash flow and our debt is quite high, about US$826 million,' he said.
...
Mr Satar, 45, isn't a newbie to Garuda's corridors.
Between July 1999 and May 2003, he served as Garuda's finance director.And proved his worth.
In 2001, he was instrumental in reorganising the company's US$1.2b debt, after three years of negotiating with lenders, reported Bloomberg.
It is no surprise, therefore, that Mr Satar's broad strategy is also the most basic: cost-cutting.
He wants to focus on several areas: tightening routes, increasing efficiency and improving economies of scale.
'Right now, we're trying to identify all the costs that can be cut to make our operations more efficient, without sacrificing our product and services,' he said.
And the improvements will be apparent soon, he said.
'We've already actively started these cost-cutting measures.You should see some improvements in the next six months.'
For a start, he has pushed the airline to improve its on-time performance to increase customer confidence.
'We were operating at 79 per cent, which is lower than the industry standard of 85 per cent. We've managed to push it up to 87 per cent now,' Mr Satar explained.
'We would like to realign our losing routes, by examining them one by one and increasing the frequency in those where we see there is demand.'
Also on the drawing board: improving synergy with Garuda's subsidiary company that does aircraft maintenance.
An accountant by training, Mr Satar started his career as an auditor and held senior positions at various companies including Citibank.
Before his Garuda appointment, he was director of Indonesia's fifth-largest lender Danamon Bank.
The airline industry, however, is entering a challenging phase.
Budget carriers are flooding the market with lures of dirt-cheap fares.
But Mr Satar is unfazed.
For a start, Garuda has announced that its subsidiary airline, Citilink, would be managed separately from its parent carrier.
'Citilink was designed as a low-cost carrier but because it used to be managed under one roof, people think it is like a full-cost carrier,' said Mr Satar.
...
As for rising oil prices, Mr Satar said it is a problem that will be kept on the radar.
Already, the airline has upped its fuel surcharge.
'If fuel prices continue to go up, we have no choice but to continue to do this.Other airlines are also doing this so consumers will understand,' he said.
On the bright side - post-Sars and post-911 - people are flying again.

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