Azim dismissed from the MD

Managing Director of State Trading Organization (STO) Adam Azim has been dismissed from his position today.

President of the Privatization Board managing the controlling companies of the government, Mohamed Nizar told Sun Media that Azim was dismissed from his post because the government saw that it should be done.

“It’s government majority share holding companies, no? The government saw that it should be so.” Nizar responded when asked why the former MD was dismissed.

Adam Azim, to whom President Abdulla Yameen assigned as the managing director of STO when he took his presidency, is the brother of the former Defense Minister Colonel-retired Mohamed Nazim.

Ahmed Shaheer was assigned as the managing director of STO after Azim’s dismissal.

Shaheer, who was in charge of STO’s Procurement Department is also member of the board of directors.