MIFCO operating without a CEO for 5 months!

The state-owned fisheries company, Maldives Industrial Fisheries Company (MIFCO), has been operating without a CEO for five months.

The position of MIFCO's CEO became vacant following the dismissal of Ahmed Samah Rasheed from the post and the company's board of directors on May 21 this year. While MIFCO has been operating without a CEO for five months, the company is currently being temporarily run by Ilyas Haneef, who holds the position of Chief Financial Officer.

The Privatization and Corporatization Board (PCB) has announced twice to find a CEO for MIFCO. The first announcement made on June 26, 2024, was canceled on July 16, stating that no qualified candidate had applied. The second announcement to find a CEO was made on September 29. While the deadline for that announcement expired at 14:00 on October 8, 2024, the PCB has not yet publicly commented on it.

Although a long time has passed with MIFCO operating without a CEO, neither the government nor the PCB has disclosed why a CEO has not been appointed.