Former Deputy Commissioner of the Maldives Police Service (MPS) Ahmed Saudhy has been appointed as the new Chief Executive Officer (CEO) of the Maldives Transport and Contracting Company (MTCC).

The Privatization and Corporatization Board (PCB) revealed this on Wednesday, via a post on social media platform ‘X’.

Abdulla Ziyadh, who filled the position earlier, has been transferred to the Minister of Climate Change, Environment and Energy, as a state minister.

Ziyadh was appointed MTCC’s CEO and Managing Director on 28 November 2023.

Prior to that, he served at the environment ministry as well as the construction ministry.

Saudhy most recently filled a position appointed by President Dr. Mohamed Muizzu while he was Mayor of Malé City.

He earlier served as a deputy minister at the youth ministry and had an extensive career in MPS.

When he was appointed to the top post of the biggest company that carries out the most extensive projects across the island nation, it is to be noted that does not have any experience in managing a company, nor has he ever filled such a top position.

During the previous administration of former president Ibrahim Mohamed Solih, MTCC was one of the best and most efficient companies across the country.

For three consecutive years, the company reported profits of MVR 200 million every year.

However, MTCC was hit hard after the incumbent administration took over and has observed a plunge in its operations.

MTCC reported an operating profit of MVR 41.77 million in the first quarter of 2024, which is a significant decline in comparison to the MVR 56.48 million reported in the same period last year.