Dhiraagu CEO Ismail Rasheed set to retire; Vlade named successor

Dhiraagu announced a planned leadership transition on Wednesday, with its Managing Director and Chief Executive Officer, Ismail Rasheed, set to retire after nearly four decades of service at the telecom company.

Dhiraagu has named Valdemar ‘Valde’ Ferradaz as his successor.

He joined Dhiraagu on Wednesday as the CEO designate.

According to Dhiraagu, the succession process was led by Beyon and overseen by the Board's Remuneration, Nomination and Governance Committee, with the appointment of the Managing Director and Chief Executive Officer remaining the responsibility of the Dhiraagu Board of Directors.

Ismail began his telecommunications career with Dhiraagu's predecessor under Cable & Wireless (C&W) before becoming part of Dhiraagu's founding team in 1988. Throughout his career, he has played a pivotal role in the development of telecommunications and digital connectivity in the Maldives, leading initiatives that transformed the nation's communications landscape and helped establish the foundations of today's digital economy.

His notable achievements include playing a key role in the pioneering network rollout program, connecting every inhabited island in the country, and leading the introduction of GSM mobile services nationwide. He also led the successful delivery of the Dhiraagu–SLT Submarine Cable System in 2006 and the development of the north–south domestic submarine cable network, which became the backbone of Dhiraagu’s fully digital infrastructure. He played a key leadership role in Dhiraagu’s 2011 IPO, including managing and marketing the offering to institutional and retail investors in the Maldives and overseas.

He took on the mantle of Managing Director and CEO in 2015, and has since overseen a period of significant growth and transformation, including major investments in national digital infrastructure, expansion of next-generation mobile and fixed broadband services, and the successful completion of 100% Fibre-to-the-Home coverage across all inhabited islands of the Maldives.

His successor, Valde brings more than 30 years of international leadership experience in telecommunications and digital services across Africa, Europe, Asia and the Caribbean. A South African national, he helped launch South Africa’s first mobile network and has held senior leadership roles with Vodafone, Digicel, Cell C, Telkom Mobile and MVNX, building a distinguished career in launching, growing and transforming telecommunications businesses across developed and emerging markets.

His experience spans mobile and fixed telecommunications, digital services, enterprise and consumer markets, business transformation and organizational turnaround. Throughout his career, he has worked closely with governments, regulators, investors and strategic partners, supporting national digital development while delivering sustainable growth across diverse international markets.

Beyond his executive experience, Valde is recognized for a collaborative leadership style built on listening, empowering people and creating strong organizational cultures. He believes technology will continue to evolve, but sustainable success is created by trusted relationships, customer focus and people who feel genuinely valued and empowered.

Dhiraagu states that during the transition period, Valde will work closely with Ismail, the Board and the Executive Management Team while meeting employees, customers, shareholders, regulators, government stakeholders and strategic partners.

According to Dhiraagu, the transition program is designed to provide continuity of leadership, facilitate the transfer of knowledge and relationships, and ensure a seamless assumption of executive responsibilities.

The Board confirmed that the transition process has been carefully designed to ensure business continuity, stakeholder confidence and continued execution of the company's strategy, with no change to the company's priorities, commitments or long-term direction.