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Three generations in the business, from left to right: New Lippo Karawaci CEO John Riady, his father James Riady, and group founder Mochtar Riady. (John Riady photo by AP)
CEO in the news

Indonesia's Lippo Group throws 33-year-old heir into deep end

New CEO John Riady tasked with restoring property developer's scandal-tainted image

SHOTARO TANI, Nikkei staff writer | Indonesia

JAKARTA -- It was no secret that John Riady was being groomed to lead one of Indonesia's biggest family empires, but the 33-year-old wasn't expecting to get the call so soon -- certainly not while the group was confronting financial pressure and a serious scandal.

"It is not something that I had planned for," he said of the family's push late last year to make him CEO of property developer Lippo Karawaci, the heart and soul of the $8 billion Lippo Group conglomerate. His grandfather, founder Mochtar Riady, spoke with him. Then came his uncle, Stephen Riady. Finally, John's father, James Riady, made a pitch.

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