Garuda Indonesia CEO says to step down around year-end

[SINGAPORE] Emirsyah Satar said on Friday he would step down as chief executive of Garuda Indonesia within months after a decade-long stint during which he helped repair the image of the loss-making Indonesian flag carrier and restructure operations.

Mr Satar told Reuters in an interview that he will leave Garuda because current regulations prevent any CEO from serving more than two, five-year terms. He said he would step down late this year or early next year, after a shareholders' meeting.

In the few months he will remain at Garuda, Mr Satar said he would focus on ensuring the growth of its loss-making budget unit Citilink.