<![CDATA[The Board of Directors of BUMN Persero possesses extensive authority in the realm of business decision-making; however, it also faces the risk of criminalization should its decisions lead to financial losses for the state. This study is predicated upon the multitude of corruption cases that have implicated BUMN directors and the ambiguous demarcation between permissible business risks and criminal acts. Law No. 1 of 2025 has formally established the Business Judgment Rule as a protective measure for the Directors of BUMN Persero. The objective of this article is to analyze the extent to which the limitations of this principle are enforced within the context of criminal liability. The methodology employed in this research is normative juridical encompassing a qualitative analysis of legislation. The findings of this study suggest that the implementation of the Business Judgement Rule can safeguard directors, provided that it is executed with good faith, due diligence, and professional responsibility; however, such protection is nullified in instances of abuse of authority or legal transgressions. ABSTRAK Direksi BUMN Persero memiliki kewenangan yang luas dalam mengambil keputusan bisnis, tapi juga rentan terhadap kriminalisasi jika keputusan yang diambil menimbulkan kerugian negara. Penelitian ini didasarkan dari banyaknya kasus korupsi yang melibatkan direksi BUMN dan belum jelasnya batasan antara risiko bisnis yang wajar dan tindak pidana. UU No 1 Tahun 2025 telah menetapkan prinsip Business Judgement Rule sebagai bentuk perlindungan bagi Direksi BUMN Persero. Penelitian ini bertujuan menganalisis sejauh mana batasan prinsip tersebut diterapkan dalam konteks pertanggungjawaban pidana. Penelitian ini menggunakan pendekatan analisis hukum normatif dengan metode kualitatif terhadap perundang-undangan. Temuan dari penelitian ini mengindikasikan bahwa penerapan Business Judgement Rule dapat malindungi direksi selama dilakukan dengan itikad baik, kehati-hatian dan tanggung jawab profeisonal, tapi tidak berlaku jika terjadi penyalah gunaan wewenang atau pelanggaran hukum Kata Kunci: BUMN; Pertanggungjawaban; Direksi; Business Judgment Rule; Korupsi.]]>
