Sinar Mas Executive and Leadership Team

September, 2026

Leadership Overview

Sinar Mas has 10 executives leading key functions including property development, strategic analytics, infrastructure, and technology advisory.

Focused on sustainable urban growth, Sinar Mas delivers comprehensive real estate solutions while maintaining a commitment to excellence in property development and infrastructure across diverse Indonesian markets.

Leadership Roles at Sinar Mas

  • Chief Executive Officer - Theodore Thenoch
  • Vice President, Group Chief Executive Officer Office - Stella Rajagukguk
  • Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer) - Gerard Chan
  • DG Chief Executive Officer INVITE Office - Diar Utomo
  • Chief Executive Officer, Technology Advisory & Business - Irvan Yasni
  • Deputy Group Chief Executive Officer Office - Jackelyne Theonardo
  • Vice President, Strategy & Group Chief Executive Officer, Analytics Office - Rymax Joehana
  • Group Chief Executive Officer Office - Vera Rahardja
  • Chief Financial Officer, Investment International Technology & Emerging Business - Chandra Dewi
  • Chief Information Officer - Stefanus Mulianto
  • Theodore Thenoch - Chief Executive Officer

    Theodore Thenoch, the Chief Executive Officer at Sinar Mas, directs the overarching property and real estate development strategy. Overseeing large-scale urban projects, the Chief Executive Officer ensures alignment with long-term growth objectives across the Indonesian portfolio. This leadership role involves managing complex land acquisition processes and optimizing asset performance to maximize shareholder value. By coordinating with regional stakeholders, Thenoch drives operational efficiency within the core real estate business units. The Chief Executive Officer maintains a focus on sustainable development practices, ensuring that all projects meet rigorous quality standards. Through the implementation of innovative construction methodologies, Theodore Thenoch secures the market position of the organization. This executive leadership ensures that the company remains a dominant force in the property sector, consistently delivering high-value residential and commercial spaces that cater to evolving market demands while fostering long-term community development.

    Stella Rajagukguk - Vice President, Group Chief Executive Officer Office

    Stella Rajagukguk, the Vice President, Group Chief Executive Officer Office at Sinar Mas, manages the administrative and operational workflows supporting executive decision-making. Coordinating cross-departmental initiatives, the Vice President, Group Chief Executive Officer Office ensures that corporate directives reach all business units effectively. This role involves streamlining communication channels between the executive suite and operational teams to enhance organizational agility. By monitoring key performance indicators, Stella Rajagukguk provides actionable insights that inform strategic planning and resource allocation. The Vice President, Group Chief Executive Officer Office facilitates high-level meetings, ensuring that all discussions translate into concrete action plans for the real estate division. Through rigorous oversight of internal processes, the executive maintains operational excellence across the group. This leadership function supports the broader mission of the company by ensuring that executive priorities remain aligned with the overarching business goals, ultimately driving efficiency and clarity throughout the entire corporate structure.

    Gerard Chan - Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer)

    Gerard Chan, the Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer) at Sinar Mas, directs the expansion of infrastructure and energy assets. Overseeing diverse portfolios, the Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer) ensures that energy projects support the broader real estate development goals. This role involves managing complex supply chains and optimizing resource utilization across the mining and consumer sectors. By leveraging regional market intelligence, Chan drives growth in infrastructure projects that enhance the value of land holdings. The Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer) coordinates with external partners to secure project financing and regulatory compliance. Through strategic investment in sustainable energy solutions, Gerard Chan strengthens the operational resilience of the company. This leadership role ensures that infrastructure development remains a key pillar of the business model, providing the necessary foundation for long-term growth and market stability in the competitive Indonesian landscape.

    Diar Utomo - DG Chief Executive Officer INVITE Office

    Diar Utomo, the DG Chief Executive Officer INVITE Office at Sinar Mas, manages specialized investment initiatives and corporate development projects. Overseeing the integration of new business ventures, the DG Chief Executive Officer INVITE Office ensures that all investments align with the core real estate mission. This role involves conducting thorough market analysis to identify emerging opportunities in the property sector. By facilitating collaboration between internal teams and external investors, Utomo drives the successful execution of high-stakes projects. The DG Chief Executive Officer INVITE Office monitors the financial health of new ventures, ensuring that capital deployment yields optimal returns. Through the application of strategic foresight, Diar Utomo mitigates risks associated with market volatility. This leadership function supports the company by expanding the scope of operations into new, high-growth areas, ensuring that the organization remains at the forefront of the industry through continuous innovation and disciplined investment management.

    Irvan Yasni - Chief Executive Officer, Technology Advisory & Business

    Irvan Yasni, the Chief Executive Officer, Technology Advisory & Business at Sinar Mas, directs the digital transformation of real estate operations. Overseeing the implementation of smart city technologies, the Chief Executive Officer, Technology Advisory & Business ensures that property developments integrate modern digital infrastructure. This role involves advising the board on emerging technological trends that impact the real estate market. By optimizing business processes through automation, Yasni drives operational efficiency across all departments. The Chief Executive Officer, Technology Advisory & Business coordinates with IT teams to secure data integrity and enhance customer-facing digital platforms. Through the deployment of advanced analytics, Irvan Yasni provides the data-driven foundation necessary for informed decision-making. This leadership role ensures that the company leverages technology to maintain a competitive edge, creating value for residents and commercial tenants alike while modernizing the traditional property development model for the digital age.

    Jackelyne Theonardo - Deputy Group Chief Executive Officer Office

    Jackelyne Theonardo, the Deputy Group Chief Executive Officer Office at Sinar Mas, supports the execution of group-wide strategic initiatives. Overseeing the alignment of departmental goals, the Deputy Group Chief Executive Officer Office ensures that all business units contribute to the overarching corporate vision. This role involves managing complex internal projects that require cross-functional collaboration. By facilitating communication between senior leadership and operational managers, Theonardo drives the implementation of key performance standards. The Deputy Group Chief Executive Officer Office monitors project timelines and resource allocation to ensure that all objectives meet established deadlines. Through the application of rigorous management practices, Jackelyne Theonardo maintains organizational discipline. This leadership function is essential for the smooth operation of the company, as it ensures that executive decisions are translated into effective, measurable actions that support the long-term growth and stability of the real estate and property development business.

    Rymax Joehana - Vice President, Strategy & Group Chief Executive Officer, Analytics Office

    Rymax Joehana, the Vice President, Strategy & Group Chief Executive Officer, Analytics Office at Sinar Mas, directs the development of data-driven strategic frameworks. Overseeing the analytics department, the Vice President, Strategy & Group Chief Executive Officer, Analytics Office ensures that market data informs every aspect of property development. This role involves identifying long-term growth trends and assessing the competitive landscape to guide executive decision-making. By synthesizing complex datasets, Joehana provides actionable intelligence that optimizes land use and project planning. The Vice President, Strategy & Group Chief Executive Officer, Analytics Office coordinates with the finance and operations teams to ensure that strategic goals remain grounded in empirical evidence. Through the application of advanced modeling techniques, Rymax Joehana enhances the precision of investment strategies. This leadership role ensures that the company maintains a proactive approach to market changes, securing a sustainable competitive advantage through superior analytical rigor and strategic foresight.

    Vera Rahardja - Group Chief Executive Officer Office

    Vera Rahardja, the Group Chief Executive Officer Office at Sinar Mas, manages the operational coordination of the executive office. Overseeing the flow of information between the board and the various business units, the Group Chief Executive Officer Office ensures that corporate governance standards remain high. This role involves managing the scheduling and prioritization of executive tasks to maximize productivity. By facilitating internal communication, Rahardja ensures that all departments remain aligned with the strategic vision of the company. The Group Chief Executive Officer Office monitors the progress of key initiatives, providing regular updates to the leadership team. Through the application of efficient administrative processes, Vera Rahardja supports the overall effectiveness of the executive suite. This leadership function is critical for maintaining the operational rhythm of the organization, ensuring that all strategic priorities receive the necessary attention and resources to drive success in the competitive real estate market.

    Chandra Dewi - Chief Financial Officer, Investment International Technology & Emerging Business

    Chandra Dewi, the Chief Financial Officer, Investment International Technology & Emerging Business at Sinar Mas, directs the financial strategy for international investments and emerging technology ventures. Overseeing capital allocation, the Chief Financial Officer, Investment International Technology & Emerging Business ensures that financial resources support the expansion of the company into new markets. This role involves managing complex financial reporting and risk assessment for international projects. By optimizing the capital structure, Dewi drives the financial health of the emerging business units. The Chief Financial Officer, Investment International Technology & Emerging Business coordinates with the investment team to evaluate the viability of new technology-driven real estate opportunities. Through the application of disciplined financial management, Chandra Dewi secures the long-term profitability of the organization. This leadership role ensures that the company maintains a strong balance sheet while pursuing innovative growth strategies that define the future of the property development industry.

    Stefanus Mulianto - Chief Information Officer

    Stefanus Mulianto, the Chief Information Officer at Sinar Mas, directs the enterprise-wide information technology strategy. Overseeing the security and scalability of digital infrastructure, the Chief Information Officer ensures that all property management systems operate with maximum efficiency. This role involves managing the integration of cloud-based solutions to support the company's real estate development projects. By implementing robust cybersecurity protocols, Mulianto protects sensitive corporate and client data. The Chief Information Officer coordinates with other C-suite leaders to ensure that technology investments directly support business growth and operational goals. Through the continuous modernization of IT systems, Stefanus Mulianto drives the digital transformation of the organization. This leadership role ensures that the company remains technologically agile, providing the necessary digital tools to manage large-scale developments and maintain a high standard of service for all stakeholders in the competitive Indonesian property market.
    Stefanus Mulianto

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    Frequently Asked Questions Regarding Sinar Mas Top Executives and Leadership Team

    Who leads Sinar Mas?
    Sinar Mas is led by Theodore Thenoch (Chief Executive Officer), along with executives such as Stella Rajagukguk (Vice President, Group Chief Executive Officer Office) and Gerard Chan (Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer)).
    Who is part of Sinar Mas’s executive team?
    The executive team of Sinar Mas includes leaders such as Theodore Thenoch (Chief Executive Officer), Stella Rajagukguk (Vice President, Group Chief Executive Officer Office), Gerard Chan (Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer)) and other senior executives.
    How many executives does Sinar Mas have?
    Sinar Mas has 10 executives leading key business areas.
    What roles are included in Sinar Mas’s leadership team?
    The leadership team of Sinar Mas includes roles such as Chief Executive Officer, Vice President, Group Chief Executive Officer Office, Chief Executive Officer, Golden Ace (Infrastructure, Mining Energy & Consumer), DG Chief Executive Officer INVITE Office, Chief Executive Officer, Technology Advisory & Business.