IDX Head Steps Down Following Sharp Sell-off in Indonesian Stocks

REPUBLIKA.CO.ID, JAKARTA -- Indonesia was taken by surprise on Friday (30/1/2026) as the president director of the Indonesia Stock Exchange (IDX) resigned from his post, following sharp turmoil in the stock market over the past two days. President Director of PT Bursa Efek Indonesia (BEI) Iman Rachman announced his resignation this morning, following a sharp downturn in capital market conditions over the past two days.

“I am the President Director of the Indonesia Stock Exchange, and as a form of my responsibility for what happened regarding market conditions two days ago, I have resigned as the President Director of the Indonesia Stock Exchange,” Iman told reporters at the BEI Building in Jakarta.

Iman said that although market conditions showed improvement at the opening of trading on Friday (Jan. 30, 2026), he had unanimously decided to step down from his position.

“I hope it’s the best for the capital markets. Hopefully with my resignation, our capital markets get better,” he said.

“Hopefully our index, which opened with gains this morning, will continue to improve in the coming days,” he added.

Iman Rachman formally conveyed his resignation as President Director of the Indonesia Stock Exchange at the BEI Building in Jakarta on Friday, after the Jakarta Composite Index (IHSG) recorded a sharp decline over the past two days.