Abdulla Saeed has been appointed as a board members and the new Managing Director of State Trading Organization (STO).
The Privatization and Corporatization Board (PCB) reached the decision to appoint Saeed as a board member and MD of STO, on Tuesday.
Saeed was presented his Letter of Appointment as STO’s new MD during a ceremony held at the Ministry of Finance, by PCB’s President, Asim Mohamed.
According to PCB, Saeed’s appointment comes in accordance with the law on Privatization, corporatization, monitoring and Evaluation of Government businesses.
Following Saeed’s appointment, PCB engaged in discussions regarding corporate governance, government policies as well as the significant goals of the company.
Most recently, Saeed served as the Managing Director of the Maldives State Shipping (MSS).
Other positions he served include as the Manager and Director of Business Development of the Global Trading (Singapore) Private Limited, and as the Chairman as well as CEO of the Maldives National Oil Company.
Saeed’s appointment as the MD of STO comes almost two weeks after the sacking of Hussain Amru as the Managing Director of STO in late March.
Executive Director and Chief Financial Officer of State Trading Organization Mohamed Nizam temporarily replaced Amru as STO’s MD on March 26.
In a Twitter post not long after the government ordered the dismissal of STO’s MD Amru, the company announced that Amru was removed from his position effective March 26.
With this, Executive Director Nizam temporarily assumed the responsibilities of STO’s MD.
The order to sack Amru was sent to the Privatization and Corporatization Board of Maldives by President Ibrahim Mohamed Solih the same day he was sacked.
RaajjeMV confirmed the decision from the President’s Office, with Spokesperson at the President’s Office, Miuvan Mohamed revealing that the government will always be making periodic alterations and changes to the management and functioning of state institutions and companies.
The decision to dismiss Amru, who served as the MD and CEO of STO before his recent removal, is one of these changes, according to Miuvan.
With these changes to STO’s management, made by the government, Amru was sacked from these two posts and as a member of the company’s board.
The decision to sack Amru came at a time he has been openly vocal against President Solih, who is running for this year’s presidential election through the main-ruling Maldivian Democratic Party (MDP).
Many have been calling for the immediate removal of anti-governmental officials working at senior positions of government offices and state institutions.