MIFCO CEO Lyubimov fired in under three months

Dr. Vitaliy Lyubimov was dismissed from his role as the Chief Operating Officer (CEO) and Managing Director of the Maldives Industrial Fisheries Company (MIFCO) on Monday – less than three months after he was appointed to head the key state corporation.

Lyubimov’s dismissal was announced by the Privatization and Corporatization Board (PCB) in a post on X on Monday night.

މޯލްޑިވްސް އިންޑަސްޓްރިއަލް ފިޝަރީޒް ކޮމްޕެނީ ލިމިޓެޑްގެ މެނޭޖިން ޑިރެކްޓަރ އަދި ޗީފް އެގްޒެކްޓިވް އޮފިސަރ ކަމުގެ މަޤާމުގައި ހުންނެވި ޑޮކްޓަރ ވިޓާލީ ލިއުބިމޮވް މިއަދު އެ މަޤާމުން ވަކިކޮށްފައިވާ ކަން އެންމެހާ ފަރާތްތަކުގެ މަޢުލޫމާތަށްޓަކައި ދެންނެވީމެވެ .

— Privatization & Corporatization Board (@pcb_gov) March 3, 2025

However, the reason for the decision hasn’t been disclosed.

Lyubimov was appointed as the CEO of MIFCO on December 9, 2024 – replacing Ahmed Samah Rasheed – who was dismissed from the post on May 21, 2024.

Soon after he assumed his new duties, the Ukrainian national warned he will not tolerate political interference or attempts to influence MIFCO's management. He also vowed to publicly expose anyone who attempts to influence the company.