Dhiraagu CEO Ismail Rasheed Retires After Four Decades of Digital Leadership

Ismail Rasheed is retiring as the Chief Executive Officer and Managing Director of Dhiraagu after nearly 40 years of service to the telecommunications giant and the Maldives. His departure marks the end of an era for one of the nation's most influential corporate leaders. As a founding member of the company since its establishment in 1988, Rasheed played a pivotal role in building the Maldives' digital infrastructure. During his tenure, he orchestrated the network rollout that connected every inhabited island and oversaw the introduction of GSM mobile services. He also led the installation of critical submarine cable systems in 2006, which significantly boosted the country's international connectivity. Rasheed's leadership extended to the company's financial evolution, where he managed the initial public offering in 2011. After ascending to the CEO role in 2015, he drove structural transformations that achieved 100 percent Fibre-to-the-Home coverage across the archipelago, ensuring high-speed internet access for residents nationwide. To ensure a seamless transition, Dhiraagu has appointed Valdemar “Valde” Ferradaz as the CEO designate, effective July 1. A South African national with over 30 years of international leadership experience, Ferradaz brings deep expertise in both mobile and fixed telecommunications to the role. The outgoing and incoming executives are currently working closely to maintain operational stability. The company's board of directors has affirmed that this leadership change will not alter long-term corporate strategies, emphasizing a commitment to preserving stakeholder confidence during the transition.