Indonesian aquaculture unicorn eFishery has appointed Adhy Wibisono as interim CEO and Albertus Sasmitra as interim CFO amid an ongoing investigation into alleged financial irregularities, several news portals reported.
DealStreetAsia first reported the news, revealing that co-founders Gibran Huzaifah and Chrisna Aditya had been suspended from their respective posts as CEO and CFO.
“This decision, reached in unison with our shareholders, showcases our commitment to improving the company governance,” the company said in a statement, Tech in Asia reported. The company said the investigation centers around financial performance and revenue discrepancies that were linked to the two co-founders. In response to the situation, eFishery said that it is “fully aware of the gravity of the market speculation regarding this decision” and is treating the matter with “the utmost seriousness.”
Founded in 2013, eFishery provides cutting-edge solutions in the aquaculture ecosystem by offering an end-to-end platform that provides access to feed, financing, and market to fish and shrimp farmers. The company has raised a total of USD 415 million in funding to date, including USD 30 million in debt financing from HSBC Indonesia in May.