Saeed appointed STO’s managing director

Abdulla Saeed, who is currently serving as the managing director of Maldives State Shipping (MSS), has been appointed as a board member and the managing director of State Trading Organization (STO).

Privatization and Corporatization Board (PCB), on Tuesday, said Saeed was appointed to the post in accordanee with the Law of Privatization, corporatization, monitoring and Evaluation of Government businesses.

Saeed was presented his letter of appointment as STO’s managing director by PCB’s President Asim Mohamed during a special ceremony held at the Finance Ministry on Tuesday.

PCB reported the ceremony saw discussions regarding corporate governance, government policies, and important goals of the company.

Saeed has served as cabinet secretary during the first MDP administration, after which he took over the management of Maldives National Shipping Limited (MNSL).

He currently manages MSS, a subsidiary of STO.

Prior to this, he has served as the manager and director of business development at V Global Trading (Singapore) Private Limited and also the chairman and CEO of Maldives National Oil Company.

Saeed was appointed to the post following former managing director Hussain Amr Mohamed Rashad’s dismissal after he refused to back President Ibrahim Mohamed Solih’s re-election and aligned himself with Maldivian Democratic Party (MDP) leader Mohamed Nasheed – who lost the party’s presidential primary - instead.