Dhiraagu PLC has announced a planned leadership transition ahead of the forthcoming retirement of its Managing Director and Chief Executive Officer, Ismail Rasheed, following nearly four decades of service to the company and the Maldives.
Under a structured succession plan, Valdemar ("Valde") Ferradaz joined Dhiraagu as Chief Executive Officer Designate on 1 July 2026. The succession process was led by Beyon and supervised by the Board's Remuneration, Nomination and Governance Committee, while the appointment of the Managing Director and Chief Executive Officer remains the responsibility of the Dhiraagu Board of Directors.
Ismail began his career in telecommunications with Dhiraagu's predecessor under Cable & Wireless (C&W) before becoming a member of Dhiraagu's founding team in 1988. Throughout his career, he played a central role in advancing telecommunications and digital connectivity in the Maldives, leading initiatives that reshaped the country's communications sector and contributed to the foundations of the nation's digital economy.
Among his key achievements were his involvement in the pioneering nationwide network rollout that connected every inhabited island, the introduction of GSM mobile services across the Maldives, the successful delivery of the Dhiraagu–SLT Submarine Cable System in 2006, and the development of the north–south domestic submarine cable network, which became the backbone of Dhiraagu's fully digital infrastructure. He also played a leading role in Dhiraagu's 2011 IPO, including managing and marketing the offering to institutional and retail investors in both the Maldives and overseas. Since becoming Managing Director and Chief Executive Officer in 2015, he has overseen significant growth and transformation, including major investments in national digital infrastructure, the expansion of next-generation mobile and fixed broadband services, and the completion of 100% Fibre-to-the-Home coverage across all inhabited islands in the Maldives.
Valde brings more than 30 years of international leadership experience across telecommunications and digital services in Africa, Europe, Asia and the Caribbean. A South African national, he helped launch South Africa's first mobile network and has held senior leadership positions with Vodafone, Digicel, Cell C, Telkom Mobile and MVNX, building extensive experience in launching, expanding and transforming telecommunications businesses in both developed and emerging markets.
His professional background covers mobile and fixed telecommunications, digital services, enterprise and consumer markets, business transformation and organisational turnaround. Throughout his career, he has worked closely with governments, regulators, investors and strategic partners, supporting national digital development while delivering sustainable growth across a range of international markets.
In addition to his executive experience, Valde is recognised for a collaborative leadership approach focused on listening, empowering people and building strong organisational cultures. He believes that while technology will continue to evolve, lasting success is built through trusted relationships, customer focus and people who feel genuinely valued and empowered.
Throughout the transition period, Valde will work alongside Ismail, the Board and the Executive Management Team while engaging with employees, customers, shareholders, regulators, government stakeholders and strategic partners. The transition programme has been designed to ensure leadership continuity, facilitate the transfer of knowledge and relationships, and support a seamless assumption of executive responsibilities.
The Board stated that the transition has been carefully structured to maintain business continuity, strengthen stakeholder confidence and support the continued execution of the company's strategy, with no changes to Dhiraagu's priorities, commitments or long-term direction.
