GoTo Taps New CEO in Step Toward Game-Changing Grab Takeover

GoTo Group appointed a new chief executive officer to replace Patrick Walujo, a move that’s expected to speed the takeover of Indonesia’s largest internet company by Grab Holdings Ltd.

Chief Operating Officer Hans Patuwo will take the helm from Walujo, the company said Monday. His appointment — which requires shareholder approval — comes after GoTo co-founders and prominent investors including SoftBank Group Corp. pushed for Walujo’s ouster over a dismal stock performance.