JAKARTA (Yosefardi) – Sulistyo Wimbo Hardjito has been today (May 21) appointed as new president director for state-owned shipping company PT Pelayaran Nasional Indonesia (Pelni), replacing Syahril Japarin, Detikfinance.com reported.

State-owned Enterprises Minister Dahlan Iskan said the change of leadership aims to help turning the company into profit, instead of suffering further losses. Pelni suffered a net loss of Rp 630 billion in 2013.

Sulistyo previously served as commercial director of state-run railway firm PT Kereta Api Indonesia (KAI).

Dahlan also appointed Elfin Guntoro as new director for operation, replacing Setyobudi Santosa. Elfin previously served as consultant for Pelni.

Wimbo previously has held several positions, including Senior Vice President of Indosat from 1995 to 2005, Director of PT Satelindo in 2002 and President Director of MGTI from 1995 to 1997.

He earned a degree in Electrical Engineering from the Bandung Institute of Technology and a Masters in Business Administration from Sekolah Tinggi Manajemen Bandung (STMB).