Jakarta. Matahari Putra Prima, or MPPA, a multi-format retail company, announced the appointment of Elliot Dickson as its new chief executive and Djamel Derguini as its president.

MPPA is also looking to raise Rp 800 billion ($56 million) in investments as the company embarks on a bold transformation and executes new strategies on growth.

John Bellis, the president commissioner of the MPPA, was enthused to welcome Elliot Dickson as the new chief executive.

"We are very excited about the future of the company and are thrilled to welcome Elliot Dickson as chief executive, he brings strong vision and leadership, passion for the consumer, and executive capabilities needed to build upon our market leadership in the changing environment," Bellis said in a press release on Thursday (05/04).

Elliot Dickson is a United States citizen with over 35 years of leadership within the retail industry. His last post was as chief executive of Walmart in China, responsible for 412 hypermarkets and $8 billion in revenues.

Elliot expressed excitement to return to Indonesia, bringing a deep understanding of the Indonesian consumer. Dickson will serve as chief executive effective April 30.

"The retail opportunity in Indonesia is remarkable. I look forward to leading the company and working with the team in making MPPA the strongest retailer in Indonesia," Dickson said.

Newly appointed president Djamel Derguini is a French citizen and has been with the company since 2014. He brings more than 20 years of experience in the industry, and most recently served as chief of operations for MPPA.

"I look forward to putting all my resources and passion into this and working together with Elliot to seize the opportunity ahead," Derguini said.

The strategic change in leadership is set to place MPPA as a prominent hypermarket group in Indonesia and oversees 259 multi-format outlets across the country. Lippo Group, a prominent entity within the service and lifestyle industry, and MPPA’a largest shareholder, will act as an active buyer ready to further invest if need be.