MIFCO CEO Faruhath resigns
Faruhath Sheheer resigned as the Managing Director of MIFCO on Sunday, having served in the role since his appointment in March last year; however, the reason for his departure remains unclear, coming amidst a series of leadership changes across several state-owned enterprises.
Retired Brigadier General Faruhath Shaheer, who served as the Chief Executive Officer of MIFCO. | IGMH | igmh
Retired Brigadier General Faruhath Shaheer has resigned from his position as the Managing Director and Chief Executive Officer of the Maldives Industrial Fisheries Company (MIFCO).
According to reports, Faruhath resigned on Sunday. He has also formally notified the company's employees of his decision.
The specific reason for the immediate resignation remains unclear.
Faruhath was appointed as the CEO of MIFCO on March 5, 2025. He succeeds Dr. Vitaly Lyubimov, a foreign national who previously held the position.
Farhath served as the Vice Chief of Defence Force during the administration of former President Mohamed Nasheed. He retired from military service on February 29, 2012, during the presidency of Dr. Mohamed Waheed Hassan Manik. Following his retirement, he served as the CEO of IGMH during former President Abdulla Yameen’s administration.
Faruhath's resignation comes amid a wave of dismissals targeting senior officials in government ministries and state-owned enterprises following the three elections held on April 4. Reports indicate that the President's Office has been directly instructing these officials to step down from their posts.
In this regard, Fenaka CEO Mohamed Najah has been removed from his post, while MPL CEO Mohamed Rishwan recently resigned after being asked to step down.
