Dhiraagu CEO Ismail Rasheed to Retire After Nearly Forty Years of Service
Former Managing Director and Chief Executive Officer of Dhiraagu PLC, Ismail Rasheed.
Dhiraagu PLC has announced a planned leadership transition following the forthcoming retirement of its Managing Director and Chief Executive Officer, Ismail Rasheed, after nearly four decades with the company and its predecessor.
As part of a structured succession plan, Valdemar (“Valde”) Ferradaz has been appointed Chief Executive Officer Designate, effective 1 July 2026. He will work alongside Ismail Rasheed during a transition period before formally assuming the role.
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Ismail Rasheed has played a central role in Dhiraagu’s development, including the expansion of national telecommunications infrastructure, the rollout of mobile services across the Maldives, the delivery of major submarine cable systems, and the company’s transition into a fully digital network provider. He has served as Managing Director and CEO since 2015.
Valde Ferradaz brings more than 30 years of international experience in telecommunications and digital services across Africa, Europe, Asia and the Caribbean. His background includes senior leadership roles in mobile network development, business transformation and operational turnaround across multiple international markets.
During the transition period, Ferradaz will engage with employees, customers, shareholders, regulators and government stakeholders as part of a structured handover process designed to ensure continuity and stability.
Dhiraagu said the succession process was led by its parent company Beyon and overseen by the Board’s Remuneration, Nomination and Governance Committee. It added that the transition plan ensures continuity in leadership, strategy and operations with no change to the company’s long-term direction.
