Making sense of GoTo's exec shuffle

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} When I first worked on GoTo’s org chart almost a year ago, many people came to me and asked why the Indonesian tech giant appointed Andre Soelistyo to lead its financial arm GoTo Financial, as he was already the group CEO. My best guess: The company had a different emphasis on its financial services. But I also bet that this change wouldn't last long. Months later, the company had a restructuring and Soelistyo took on the role as CEO of Gojek, the super app, while still leading GoTo Financial and the whole group. This development came after Gojek co-founder Kevin Aluwi stepped down. I felt puzzled by the decision to have Soelistyo juggle several hats, and even questioned whether it was to ensure a smooth transition later on or if it reflected a lack of trust in the existing leadership team. Thankfully, this has all changed recently because the group finally found three executives to lead Gojek, Tokopedia, and GoTo Financial, respectively. This means that Soelistyo can now focus on executing the group strategy with the help of co-chairman William Tanuwijaya, formerly Tokopedia CEO. In the [latest update]( of the org chart, you can also see that Aluwi has left his commissioner role (though he retains his voting shares), effectively eliminating all Gojek founders’ supervisory and operational positions in GoTo. -- [Budi Sutrisno]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Org Chart: Top brass realignment at GoTo Group]( With the latest restructuring, Andre Soelistyo and William Tanuwijaya will both sit at the top of the tech giant. 2. [SEA’s listed tech majors in 10 charts: Sea Group back in green and growing]( These companies could dictate whether more global investors will back Southeast Asia and decide the fate of the region's tech industry. 3. [The key players in SEA’s agritech space]( The region’s agritech industry attracted over 2.5x more investment with funding deals in the sector reaching an all-time high in 2022. 4. [Why SEA should watch out for Shein’s top rival Temu]( Tech in Asia deciphers the factors behind the meteoric rise of Temu, Pinduoduo's sister company. 5. [Investing in women founders is good business, says diversity-focused SoGal Ventures]( Of the startups bankrolled by SoGal Ventures’ first fund, which had eight “up” rounds in 2022, 95% have at least one female co-founder. 6. [Binance’s dominance grows in FTX’s absence]( Despite its falling trade volumes and the growing demand for DeFi exchanges, Binance continues to dominate the cryptoverse. 7. [This Indonesian social commerce firm digitalized ‘arisan’ and grew revenue 3x]( GoTo-backed Mapan added a digital spin to the practice of ”arisan,” a traditional rotating savings and credit scheme in Indonesian culture. 8. [Want to save time and money on graphic design? Use AI]( Pairing a human with an AI coding assistant can reduce the amount of time spent on a coding task - and that’s just one example of the tech’s utility. 9. [Sea Group’s financial health in 8 charts]( Here are 8 charts that snapshot how Sea Group, the company behind Garena and Shopee, is faring. 10. [SPAC boom to bust: SGX’s experiment one year on]( SGX has not attracted new SPAC listings after the initial three in January 2022, but it's too soon to write off the initiative. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. 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