From Cable and Wireless to fibre for all: Ismail Rasheed's four decades at Dhiraagu end

Ismail Rasheed, Chief Executive Officer and Managing Director of Dhiraagu, retired from the company on Friday. His departure ends a career of nearly four decades in the Maldives telecommunications sector. Ismail announced the end of his tenure in a message posted on LinkedIn.

His retirement follows a leadership transition plan Dhiraagu announced on July 1. Under the plan, Valdemar "Valde" Ferradaz joined the company as Chief Executive Officer Designate. Ferradaz is now set to lead Dhiraagu.

In his message, Ismail credited Dhiraagu's staff for the company's achievements. He said the results came from a team united by shared purpose and commitment to customers.

"These achievements are the result of an exceptional team united by a shared purpose, an unwavering commitment to our customers, and a determination to make a meaningful difference to the lives of people and the nation we serve," he said.

Ismail also thanked successive Maldivian governments, majority shareholder Beyon, Dhiraagu's Board of Directors, customers, and business partners for their support during his tenure.

Ismail began his telecommunications career under Cable and Wireless, Dhiraagu's predecessor. He joined Dhiraagu's founding team in 1988. He became Managing Director and CEO in 2015.

During his time at the company, Dhiraagu introduced GSM mobile services nationwide and connected all inhabited islands to its network. In 2006, the company laid the Dhiraagu-SLT submarine cable system. Dhiraagu listed its shares for public trading in 2011. Under Rasheed's leadership as CEO, the company also achieved 100 percent fiber-to-the-home coverage across all inhabited islands, according to company statements reported by Hotelier Maldives.

Ferradaz is a South African national with more than 30 years of experience in telecommunications and digital services across Africa, Europe, Asia and the Caribbean. He has held senior positions at Vodafone, Digicel, Cell C, Telkom Mobile, and MVNX, and was involved in launching South Africa's first mobile network, according to Hotelier Maldives.

Beyon, the Bahrain-based technology group and Dhiraagu's majority shareholder, led the succession process, while the Board's Remuneration, Nomination, and Governance Committee oversaw it. The formal appointment of Dhiraagu's Managing Director and CEO remains the responsibility of the company's Board of Directors.

In his farewell message, Ismail extended his best wishes to Ferradaz and Dhiraagu's executive team.