STO opens application for board directorship

State Trading Organization (STO) headquarters.

State Trading Organization (STO) on Tuesday opened application for board directorship to represent the ordinary shareholders of the company. 

The announcement made by STO noted that company regulations dictate that there should be one director to represent ordinary shareholders on the board, in addition to the six government-appointed directors.

Application was opened for the term 2022 to 2023, with the deadline set until the end of March 2022.

Along with the announcement, STO has publicized a list of 18 minimum requirements that applicants need to meet.

Only those that meet these pre-set requirements can contest in the election to appoint a board member.

The company strongly encourage all board directors to have a business management background.

Additionally, following the mandate of the Capital Market Development Authority's (CMDA) Corporate Governance Code, STO urged more females to apply for the post.