‘What I will remember most are the people’: Ismail Rasheed ends four-decade Dhiraagu career

Ismail Rasheed concluded his tenure as Chief Executive Officer and Managing Director of Dhiraagu on Friday, bringing to an end a telecommunications career spanning nearly four decades and much of the development of the Maldives’ modern communications network.

In a farewell message published on LinkedIn, Rasheed directed much of the credit for the company’s progress towards Dhiraagu’s employees, saying the organisation’s achievements had resulted from a team working towards a shared purpose.

“My heartfelt thanks go to the exceptional people of Dhiraagu,” he said. “Together, we had the privilege of helping transform the telecommunications and digital landscape of the Maldives.”

Rasheed began his telecommunications career with Dhiraagu’s predecessor under Cable & Wireless before becoming a member of Dhiraagu’s founding team in 1988. He later served as Managing Director and CEO from 2015 until the conclusion of his tenure on 31 July 2026.

His career covered several stages in the expansion of telecommunications in the Maldives, from the rollout of telephone and mobile networks to the development of submarine cable infrastructure and nationwide fibre broadband.

Rasheed played a role in the programme to connect every inhabited island and in the nationwide introduction of GSM mobile services. He was also involved in delivering the Dhiraagu–SLT Submarine Cable System in 2006 and developing the domestic north–south submarine cable network.

He later played a leadership role in Dhiraagu’s initial public offering in 2011. During his tenure as CEO, the company invested in mobile and fixed broadband infrastructure and completed fibre-to-the-home coverage across all inhabited islands.

In his farewell message, Rasheed said he was leaving Dhiraagu at a time when the company continued to lead the market and provide access to its services across the country.

“As I conclude my tenure, I do so knowing that I leave behind a company that continues to lead the market, consistently delivers outstanding performance, and has made access to its services a reality for every inhabited island, every resort and every household across the Maldives,” he said.

He attributed those outcomes to Dhiraagu’s employees, their commitment to customers and their efforts to contribute to the country.

“These achievements are the result of an exceptional team united by a shared purpose, an unwavering commitment to our customers, and a determination to make a meaningful difference to the lives of people and the nation we serve,” he said.

Rasheed also thanked successive Maldivian governments, Dhiraagu’s majority shareholder Beyon, the company’s board, customers and business partners for supporting him during his tenure.

Dhiraagu announced the leadership transition on 1 July, saying Valdemar “Valde” Ferradaz had joined the company as CEO designate under a structured succession process overseen by the board. Ferradaz has more than 30 years of experience in telecommunications and digital services in Africa, Europe, Asia and the Caribbean.

Rasheed wished Ferradaz well as he takes over the leadership of the company.

“Together with Dhiraagu’s outstanding executive team and exceptional people, I look forward to seeing Dhiraagu continue to reach new heights and build on the strong foundations we have created together,” he said.

While Rasheed’s tenure included the construction of networks and the introduction of new technologies, his closing message reflected the theme he had emphasised when Dhiraagu first announced his retirement: that the people behind the company would remain his strongest memory.

In the earlier announcement, he said Dhiraagu’s contribution went beyond infrastructure, connecting families, supporting students, enabling businesses and strengthening communities across the Maldives.

“What I will remember most are the people,” he said at the time. “I have had the privilege of working alongside exceptional colleagues whose passion, dedication and shared belief in our purpose made every achievement possible.”