MIFCO Announces Dr Vitaliy Lyubimov as New CEO
The Maldives Industrial Fisheries Company (MIFCO) has announced the appointment of Dr Vitaliy Lyubimov, a Ukrainian national, as its new Chief Executive Officer.
This marks the first time MIFCO has appointed a foreign specialist to the role. Dr Lyubimov, who brings over 20 years of experience in the business sector, will assume his duties today, according to the company.
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"Heartiest congratulations to Dr. Vitaliy Lyubimov on being appointed as the new CEO of MIFCO! With your extensive expertise and leadership, we are confident MIFCO will reach new heights in advancing sustainable fishing and contributing to the Maldivian economy. Best wishes! pic.twitter.com/CNp5MsnPdP— MIFCO (@mifcomv) December 10, 2024
Dr Lyubimov’s extensive expertise spans crisis management, stakeholder management, risk and change management, planning, business analysis, production technologies, engineering, and banking. Additionally, he is a skilled legal professional with a strong track record in resolving regulatory issues in the financial and labour sectors.
The appointment follows the dismissal of the previous CEO, Ahmed Samah Rasheed, in May. Since then, MIFCO has advertised twice for the role, seeking a candidate with significant experience in fisheries and management. The Privatization and Corporatization Board (PCB), which oversees government-owned enterprises, has yet to confirm Dr Lyubimov’s appointment.
Established in 1993 to promote and develop the Maldivian fisheries sector, MIFCO has faced recurring financial challenges over the years, necessitating increased government support. The company’s decision to appoint a foreign expert is seen as an effort to address these long-standing issues and strengthen its management capabilities.
MIFCO’s earlier job announcements specified the need for a candidate with over eight years of experience in a fisheries-related company and more than four years in managing an international fisheries company. With Dr Lyubimov’s appointment, the company aims to steer its operations towards a more sustainable and efficient future.
