CEO Insights Magazine

Leaders in corporate turnarounds are known for their ability to navigate organizations through challenging financial and operational crises, restoring profitability and stability. Successful turnarounds require both financial acumen and an understanding of market dynamics. Nano Aryono, President Director of Cardig International, has repeatedly revitalized struggling companies with his expertise in strategic business development and financial recovery.

Nano has over 28 years of experience specializing in corporate turnarounds, business development, and finance. He started his career as an auditor and has worked for many prestigious companies, including Arthur Andersen and Ernst and Young. After gaining experience in auditing, Nano decided to pursue corporate positions. He did so by starting as a Financial Controller at Hutchinson Port Indonesia and eventually became The Finance Director of the Firm. He got the opportunity to oversee all the aspects of business operations at Hutchinson, which enabled him to evolve and explore beyond finance.

Throughout his career, Nano has taken on roles in companies facing financial and operational challenges, leading to major restructuring and business recovery efforts. His expertise in business management, combined with his financial background, has made him a key figure in transforming companies on the brink of failure. Cardig International is the ninth company in his career where he has led turnaround efforts.

Embarking in an engaging interaction with CEO Insights Asia magazine, Nano shares his strategies, future roadmap, and much more. Let’s delve into it.

With over 28 years of experience in the industry, could you share the major milestones of your professional journey?

My biggest wins have been several turnarounds for struggling companies. This started 14 years ago when I joined a company as part of Indonesia's capital market investment in the real sector. The business was unable to grow, so my key achievement was stabilizing the company by finding a strategic partner to help it expand. This wasn’t just a financial solution because it involved setting up the business, developing a customer base, and even managing civil construction projects to make the company’s assets more attractive to investors. As a result, we successfully convinced an investor to acquire the company.

Four years ago, when I joined Cardig International, it was on the verge of bankruptcy, with the government locking it down due to tax issues. We were able to pay dividends to shareholders for the first time in 20 years by systematically resolving the company’s challenges.

Every company I have worked with has presented unique obstacles, but these turnarounds have been some of my most rewarding achievements.

Could you share some of the unique experiences that studying at Airlangga University in Indonesia offers, and how your time on campus shaped you beyond academics?

Airlangga University is Indonesia's top university in the eastern region and offers strong business-oriented programs. The university gave me practical exposure by connecting me to the business community and access to industry networks. This prepared me well for my career well in advance. By the time I got my first job, I was already familiar with the business landscape, especially as an auditor, due to the hands-on experience provided on campus. The university shaped my understanding of real-world business dynamics, making my transition into the professional world much smoother.

How would you describe your leadership style? Are there any key principles or strategies you follow to guide your team effectively?

I believe in a bottom-up approach, learning from the team at every level. Having started from the bottom myself, I understand the details of operations and value the insights from those on the ground.

I consider myself analytical and data-driven, so I rely heavily on data to make informed decisions.

However, I am not just focused on numbers; I gather insights through conversations and social interactions with my team, from bottom to top. This balance between data analysis and inter personal relationship allows me to make well-rounded decisions and guide my team effectively.

What is your ultimate vision for the future, and where do you see yourself heading in the coming years?

I want to grow both professionally and as a shareholder within the company I manage. While I have some investments currently, I hope over the next five years is to establish myself as a significant shareholder, not by starting a new business from scratch, but by leveraging and expanding the company I am already part of.

What advice would you offer to new entrepreneurs venturing into this industry based on your journey?

My advice to new entrepreneurs is to focus on creativity and understanding the ecosystem of the industry. It’s no longer about just competing, but about collaboration and building strong relationships within your field. Knowing how the ecosystem works will help you find new, innovative ways of doing things.

Also, be determined and persistent, and don’t give up easily in the face of challenges. Success comes from pushing through difficulties and staying committed to your vision.

Nano Aryono, President Director, Cardig International

Nano Aryono has a background in accounting from Airlangga University. He has held key roles including Managing Partner at RSM Indonesia, President Director at PT Tangguh Samudera Jaya, and Business Development Director at Samudera Terminal Indonesia. His career includes significant positions at Hutchison Ports, Philips Lighting, and as a Senior Auditor at Ernst and Young and Arthur Andersen.

Hobbies: Running, Hiking

Favorite Cuisine: Indonesian

Favorite Book: History, business, and philosophy books

Favorite Travel Destination: My travel goal is to complete all six major marathons which are New York, Chicago, Berlin, Tokyo, London, and Boston, having already achieved three of the six.