Dhiraagu announces the resignation of Ismail Rasheed as Chief Executive Officer and Managing Director, effective from 31 July 2026, bringing to an end a historic telecommunications journey of almost four decades.
During his tenure Rasheed has been instrumental in transforming the communications scene of the Maldives.
Rasheed also used LinkedIn to express his heartfelt gratitude to the staff of Dhiraagu for their invaluable contributions.
Special thanks to the great people of Dhiraagu. “We had the great privilege of working together to develop the Maldives telecommunications and digital landscapes,” said Rasheed.
Rasheed began his career in the telecoms industry with Cable & Wireless, the predecessor of Dhiraagu. A member of the founding team of Dhiraagu in 1988, he has been the company’s CEO and Managing Director since 2015, leading Dhiraagu through a period of unparalleled technological progress.
Over his long and illustrious career, Rasheed has been at the centre of several projects that have shaped the telecommunications landscape of the Maldives. In 2011 Rasheed led the successful listing of Dhiraagu on the Colombo Stock Exchange. From being the first to build nationwide telephone and GSM networks, making the Maldives archipelago of 1,190 islands fully connected, to building the Dhiraagu-SLT submarine cable system which commenced operations in 2006 and the national north-south submarine cable system.
He has also led the company through the build of its fibre to home broadband network across all inhabited islands and the ongoing evolution of its mobile and broadband networks to meet the ever growing demands of the Maldivian consumers.
“After my departure, I am confident that Dhiraagu will continue to lead the country’s telecommunications industry and deliver its reliable services to all the company’s stakeholders. “That’s mainly because of the tremendous efforts of the company’s employees,” Rasheed said.
He also thanked successive governments of the Maldives, its majority shareholder Beyon, the company’s board of directors, customers and business partners for their continued support throughout his tenure, in addition to his appreciation of Dhiraagu’s stellar workforce.
Dhiraagu announced in July that Valdemar “Valde” Ferradaz has been appointed as the new chief executive officer-designate of Dhiraagu, taking over the reins from Rasheed in a well-structured succession plan.
Ferradaz has over 35 years of experience in the telecom and digital sectors, having worked in senior executive positions in Africa, Europe, Asia, and the Caribbean.
“As I prepare to transition into my new role, I wish Valde and the Executive Committee continued success in their leadership of Dhiraagu. “The achievements of the company so far are testimony to the commitment and hard work of the employees,” Rasheed said.
Rasheed will always look back with tremendous pride on his career but he has a special place in his heart for the people he has worked with.
“I am especially grateful for the chance to have worked with such great people. It is their talent, commitment and belief in the vision that has made Dhiraagu what it is today. “My time with Dhiraagu has been an amazing journey and I leave the company with fond memories,” he added.
