STELCO chief Shamah dismissed
Shamah was appointed managing director of STELCO in September last year, following the removal of the then managing director Hussain Fahmy.
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State Electric Company Limited (STELCO) managing director Ahmed Shamah Rasheed has been dismissed from his post, five months after his appointment.
Shamah was appointed managing director of STELCO in September last year, following the removal of the then managing director Hussain Fahmy.
The Privatisation and Corporatisation Board (PCB), which oversees state-owned enterprises, said in a post on X on Sunday that Shamah’s dismissal took effect from the same day. No reason was given for the decision.
Shamah previously served as managing director of Maldives Industrial Fisheries Company (MIFCO), making him the first managing director appointed to that company under the current administration. He was dismissed from MIFCO in May 2024, less than a year after his appointment.
His removal from MIFCO followed allegations of corruption, after which he was suspended pending an investigation by the PCB. The suspension was lifted when he was dismissed from the post.
