eFishery, an Aqua-Tech startup, is appointing Adhy Wibisono as interim CEO to replace Gibran Huzaifah, who is currently under investigation for alleged misappropriation of company funds.
Adhy, who previously served as eFishery’s CFO, is replaced by Albertus Sasmitra.
“eFishery is currently operating under the leadership of Adhy Wibisono as interim CEO. In addition, Albertus Sasmitra as interim CFO,” eFishery said in a statement as quoted on Monday, December 16, 2024.
This decision is a joint decision of the company’s shareholders, as a form of commitment to improving good corporate governance.
eFishery currently understands the seriousness of the issues currently circulating, and is paying full attention.
“We are committed to maintaining the highest standards of corporate governance and ethics in the company’s operations,” Adhy said.
Previously, DealStreetAsia reported that eFishery’s board of directors decided to temporarily dismiss Gibran as CEO. Meanwhile, Chrisna Aditya, as Chief Product Officer who is another Co-founder, was also temporarily dismissed.
“eFishery investors said that both are being investigated for alleged misappropriation of the company’s financial performance and income reports,” DealStreetAsia said in a statement.
Previously, Gibran founded eFishery in 2013 in Bandung. The company then achieved unicorn status through series D funding of US$200 million (Rp3.2 trillion) in 2023.
A number of well-known investors who finance eFishery include Northstar, Wavemaker Partners, Temasek Holdings, Argor Capital, SoftBank, and HSBC Indonesia. Meanwhile, HSBC provided US$30 million for expansion plans in May 2024.
