Dhiraagu has announced a planned leadership transition as its Managing Director and Chief Executive Officer, Ismail Rasheed, prepares to retire after nearly four decades of service to the company.
The telecommunications provider said Valdemar “Valde” Ferradaz officially joined Dhiraagu as Chief Executive Officer Designate on July 1, marking the start of a structured succession process aimed at ensuring a smooth transfer of leadership.
According to the company, the succession plan was led by its majority shareholder, Beyon, and overseen by the Board’s Remuneration, Nomination and Governance Committee. Dhiraagu noted that the appointment of its Managing Director and Chief Executive Officer remains the responsibility of the company’s Board of Directors.
Nearly four decades shaping the telecom industry
Ismail Rasheed began his career in telecommunications under Cable & Wireless before becoming a member of Dhiraagu’s founding team in 1988. Throughout his career, he played a key role in expanding telecommunications services and digital connectivity across the Maldives.
Among the major milestones during his tenure were the nationwide rollout of telecommunications services to every inhabited island, the introduction of GSM mobile services, and the successful completion of the Dhiraagu–SLT submarine cable system in 2006.
He also led the development of Dhiraagu’s domestic north-south submarine cable network, which forms a critical part of the company’s digital infrastructure, and played a leading role in the company’s Initial Public Offering (IPO) in 2011.
Since assuming the role of Managing Director and Chief Executive Officer in 2015, Ismail has overseen significant investments in the company’s network, including the expansion of next-generation mobile and broadband services and the completion of Fibre-to-the-Home (FTTH) coverage across all inhabited islands of the Maldives.
Reflecting on his retirement, Ismail described serving both the company and the nation as the greatest privilege of his professional career.
He thanked Dhiraagu’s employees, customers and shareholders for their continued trust and support, stating that the company’s achievements were made possible through the dedication of its workforce.
Ismail added that he leaves Dhiraagu confident in its future, noting that the company remains financially strong and well positioned for continued growth.
New CEO Designate brings global telecom experience
His successor, Valde Ferradaz, brings more than 30 years of international experience in the telecommunications and digital services industry.
A South African national, Ferradaz has held senior leadership positions with several global telecommunications companies, including Vodafone, Digicel, Cell C, Telkom Mobile and MVNX. His career has spanned Africa, Europe, Asia and the Caribbean, with experience in mobile and fixed telecommunications, digital services, enterprise markets and business transformation.
Dhiraagu said Ferradaz is recognised for his collaborative leadership approach, which focuses on building strong teams, fostering organisational culture and delivering customer-focused innovation.
During the transition period, Ferradaz will work alongside Ismail Rasheed, the Board of Directors and the executive management team while engaging with employees, shareholders, customers, regulators, government institutions and strategic partners.
The company said the transition has been carefully planned to ensure business continuity, maintain stakeholder confidence and support the continued execution of Dhiraagu’s long-term strategy.
