New Lippo Karawaci CEO to improve management, governance

Singapore

NEWLY appointed CEO of Lippo Karawaci John Riady has, in a sense, been brought in to "clean house", after news last year of an investigation into an alleged bribery linked to the conglomerate's US$21 billion Meikarta development project, which the company has continued to deny involvement in.

In a recent interview with The Business Times, Mr Riady, grandson of founder and chairman of Lippo Group Mochtar Riady, cited this incident as one factor that has driven him to take steps to improve the firm's management and governance since he took the helm in March this year.