MIFCO CEO Dr. Vitaly Lyubimov Dismissed from Position

Dr. Vitaly Lyubimov has been dismissed from his position as Managing Director and Chief Executive Officer of Maldives Industrial Fisheries Company Limited (MIFCO). The Privatization and Corporatization Board (PCB) announced the decision through a social media post tonight, though the reason for his dismissal has not yet been disclosed.

Dr. Lyubimov was appointed as CEO of MIFCO in December last year. According to his LinkedIn profile, he holds a PhD in Economics and Public Administration and has extensive experience in restructuring struggling companies into sustainable business models. His career includes senior executive roles in the credit and risk departments of various banks, as well as board and advisory positions in multiple companies. He has also served as Chief Risk Officer for capital funds.

This leadership change follows MIFCO’s recent dismissal of three General Managers last month as part of a broader reform agenda aimed at strengthening company operations. The company previously stated that it is reviewing management performance and implementing both temporary and permanent changes to enhance efficiency.