Thursday 11th Aug 2022
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State trading organization

Executives Leave STO Due to Conflict with Amr

Several seasoned executives of State Trading Organization (STO) have been resigning from the company due to disagreements with Managing Director Hussain Amr.
A former company executive informed Dhiyares that six department heads, including the Chief Financial Officer (CFO), have now left the company. “These are highly educated people who have worked with the company for years. The company’s assets”, the source said. The informant also claimed that the department heads left the company as it became difficult to work with Amr.
The source also revealed that numerous members of staff in managerial positions have also resigned. Those who have left include those who were sent abroad for further education during the term of former STO MD Adam Azim, who is now the Managing Director of Maldives Tourism Development Corporation (MTDC).
“Those serving STO after the company sponsored their education have been forced to leave due to Amr’s arrogance”, said a former executive who is now self-employed. According to the informant, about 15 managers have resigned since Amr was appointed as MD.
The source added that the employees now hold high positions at some of the country’s largest private companies. They added that STO is facing immeasurable losses as the company is losing valuable assets.