Shareef replaces Mughunee as STELCO MD

Former Elections Commission President Ahmed Shareef Adam has replaced Hassan Mughunee as the Managing Director of State Electric Company Limited (STELCO).

The change was informed to STELCO by the Privatization and Corporatization Board (PCB). Senior government officials and STELCO have confirmed the change.

AVAS has learned that Mughunee will be appointed as the head of the Energy Authority. However, the appointment has not been confirmed thus far.

STELCO's new MD was the MD of FENAKA Corporation before being appointed as the President of the Election Commission. Before that, he worked as a top aide of former President Abdulla Yameen Abdul Gayyoom in the political arena.

The close relationship between Yameen and Shareef deteriorated after the 2018 Presidential Election. President Yameen and the opposing parties believe electoral fraud was committed, causing their defeat in the election. Several allegations have been raised by the opposition against Shareef. However, Shareef continues to deny all allegations against him.

Prior to resigning from his post as the EC President, Shareef had said he would continue to be active in politics. During the period following his resignation, he showed his support for President Ibrahim Mohamed Solih on social media platforms through likes and retweets.