Samudera Shipping Line’s board of directors has announced that Torkis David Parlaungan Batubara, executive director and CEO of the container line, has resigned, effective May 22. He will also cease to be a member of the nominating committee.
The board has appointed Asmari Herry Prayitno, executive director and chief operating officer, as interim CEO, starting May 22. Prayitno will undertake the duties and responsibilities of the CEO during the interim period, pending the search for a replacement to fill the role.
Further announcements will be released once a replacement CEO is appointed, Samudera said in a written statement. The composition of the audit and remuneration committees remains unchanged.
The Singapore-based carrier recently reported a net loss in the first quarter of 2013 of $0.4 million, plummeting 131.5 percent from $1.3 million in the first quarter of 2012. Quarterly revenue dropped 12.8 percent from $110.4 million in 2012 to $96.3 million in 2013, weighed down by lower contribution from the regional container shipping business, according to Samudera.