LPS Appoints Didik Madiono as Acting Chairman of Board of Commissioners
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JAKARTA, Investortrust.id — Indonesia’s Deposit Insurance Corporation, or LPS, has appointed Didik Madiono as acting chairman of the board of commissioners after Purbaya Yudhi Sadewa was named finance minister on Monday, Sept 8, 2025, replacing Sri Mulyani Indrawati.
Dian Ediana Rae, a member of the selection committee for candidates for the board of commissioners, explained that Didik was chosen because he is the only commissioner who does not hold an ex-officio position.
LPS is the Indonesian equivalent of the Federal Deposit Insurance Corporation (FDIC) in the United States. Its board of commissioners consists of both independent members and ex-officio members, who sit on the board because of their official positions in other financial institutions, such as the governor of Bank Indonesia and the chairman of the Financial Services Authority.
With Purbaya Yudhi Sadewa moving to the Ministry of Finance, only one independent member, Didik Madiono, remains — making him the natural choice to serve as acting chairman.
“Temporarily, we are appointing an acting chairman. Among the commissioners, only Mr. Didik does not hold ex-officio status, so he has been named acting chairman,” Dian said.
He added that LPS would maintain stability and performance during the leadership transition. Dian stressed that institutions must be prepared to handle unexpected changes, and underlined that Purbaya’s appointment reflected the government’s strong confidence in his leadership record at LPS.
Dian Ediana Rae, member of the selection committee for candidates for the board of commissioners of the Deposit Insurance Corporation (LPS), in Jakarta on Tuesday, Sept 9, 2025. Source: Investortrust/Bagus Kasanjanu
“I think every organization must be ready to handle situations like this. One important point is the government’s trust in Mr. Purbaya as former chairman of LPS,” Dian said after delivering the opening speech at the Digital Banking Awards 2025, organized by the Intellectual Business Community together with Investortrust at JW Marriott Hotel in Jakarta.
He also confirmed that LPS staff would take steps to sustain, and even improve, institutional performance while awaiting the formal appointment of a permanent chairman.
Dian explained that the selection process is now under way and the committee expects the appointment to conclude quickly once deliberations in the House of Representatives are complete.
“We know the process is still with the House. We hope a decision will come quickly, followed by the President’s decree, so LPS can operate as normal,” he said.
The selection committee has targeted completion of the recruitment process before Wednesday, Sept 24, 2025. “It should not take long. Based on the schedule, it should be finished before Sept 24,” Dian added.
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