The Privatisation and Corporatisation Board (PCB) has announced significant changes to the boards of directors of several state-owned enterprises (SOEs).
The PCB implemented the changes in accordance with the provisions outlined in the Privatisation, and Monitoring and Evaluation of SOEs Act, effective from December 5. As such, the PCB has removed eight members from the board of directors of the Housing Development Corporation (HDC) and appointed six new individuals to assume their posts.
Additionally, Brigadier General Retired Ibrahim Mohamed Didi, the former Chairman and Board of Directors of the State Electric Company Limited (STELCO), has resigned from his position. As such, Mohamed Latheef has been appointed to take over the role. Latheef previously served as the Managing Director of STELCO for eight months and held the position of Deputy Managing Director for ten years. Notably, he has dedicated 34 years of service to STELCO.
Furthermore, the PCB has removed Hamid Nasheed Mohamed from the position of Chairman and Board of Directors of the State Trading Organisation (STO) and appointed Amir Mansoor as his successor. The PCB has also filled vacancies on the Boards of Directors of STO and Aasandha Company Limited, the national health insurance provider, by appointing new members.