Dhiraagu Names Valdemar Ferradaz as CEO Designate

Dhiraagu PLC has appointed international telecommunications executive Valdemar Ferradaz as Chief Executive Officer Designate, effective 1 July 2026, the company announced on Tuesday.

Ferradaz joins as part of a structured succession plan ahead of the retirement of Managing Director and Chief Executive Officer Ismail Rasheed. The company said the succession process was led by Beyon and overseen by the Board's Remuneration, Nomination, and Governance Committee.

According to Dhiraagu, Ferradaz brings more than 30 years of international telecommunications and digital services leadership experience across Africa, Europe, Asia, and the Caribbean.

The company said he helped launch South Africa's first mobile network and has held senior leadership positions with Vodafone, Digicel, Cell C, Telkom Mobile, and MVNX. His career has involved launching, growing, and transforming telecommunications businesses in both developed and emerging markets, the company said.

Dhiraagu said his experience spans mobile and fixed telecommunications, digital services, enterprise and consumer markets, business transformation, and organizational turnaround. It added that he has worked closely with governments, regulators, investors, and strategic partners in support of national digital development.

Board Chairperson Ismail Waheed welcomed the appointment. "The Board is also pleased to welcome Valde as Chief Executive Officer Designate," he said. "We are confident he will honor Dhiraagu's legacy while helping shape its next chapter of growth and innovation."

Ferradaz said his career had shown him that people and culture drive business success. "I've spent my career launching, building, consolidating, and turning around telecoms businesses across some of the most demanding markets in the world," he said. "Technology changes constantly, but it has always been the people, the leadership, and the way they behave in service of their customers that determines the success of any business."

He said he intended to build on the company's existing foundation. "I am very excited to be joining Dhiraagu and to have the opportunity to serve the Maldivian people, our economy, and our organization," he said.

Dhiraagu said Ferradaz will work closely with Ismail, the Board and the Executive Management Team during the transition period. He will also meet employees, customers, shareholders, regulators, government stakeholders, and strategic partners.

The company said the appointment of the Managing Director and Chief Executive Officer remains the responsibility of the Dhiraagu Board of Directors.