Ahmed Shamah Rasheed has been dismissed from his role as CEO at MIFCO.

The Privatisation and Corporatisation Board (PCB) said in a post on X on Tuesday night that Shamah had been removed from the post of CEO of MIFCO and also as board directors of MIFCO, but did not specify the reasons for his dismissal.

Shamah was appointed as the CEO of MIFCO on December 1 last year.

Shamah's dismissal from the post comes while he is current in Thailand to attend the 18th INFOFISH World Tuna Conference and Exhibition.

Shamah was also suspended by the PCB for filing corporate governance-related cases against him before he was sacked. The suspension imposed on March 18 was lifted on April 24.

In a letter to Shamah, the PCB said that the board was looking into 12 cases against him, including nepotism in the hiring process and misuse of company resources for political purposes.