Public Service Media (PSM) 's Managing Director Ali Khalid and Deputy Managing Director Mohamed Shameem have resigned from their positions upon the expiration of their term.
The two resigned after the Privatization and Corporatization Board (PCB) decided against renewing their four-year term as per regulations.
Shameem told AVAS that his term as Deputy Managing Director expired on Monday and the managing director's term expired on Saturday. He said he did not know why the PCB decided not to renew their term.
PSM's operation has now been handed over to the company's Procurement Director, Mohamed Saeed. Saeed will be able to attend board meetings as long as he heads PSM's operations, the PCB said. The PSM board consists of five members.
The PCB has directed PSM not to take any decisions or actions relating to the company's policies or relatively large financial or business affairs, except those required in terms of the day-to-day running of the company, until a person is appointed as its managing director.
