Fahumee exits STELCO after 27 years, thanks President

Hussain Fahumee, who was dismissed from the post of STELCO MD today, extended thanks to President Dr Mohamed Muizzu for having granted him the opportunity to lead the company. 

In a post shared on X, Fahumee also thanked the executives and team at STELCO who had worked alongside him over his 27 years of service at the company. 

"I take immense pride in all that we have achieved together and wish STELCO continued growth, success, and prosperity in the years ahead," he wrote. 

Privatization and Corporatization Board announced Fahumee's dismissal today, with former MIFCO CEO Ahmed Shamah Rasheed appointed to replace him as STELCO MD. 

Fahumee was appointed as MD of the company following a 25 year career at STELCO. His appointment was in November 2023, soon after this administration assumed office. 

It is so far unclear whether Fahumee will be appointed elsewhere by the government. However, rumours of his dismissal have been circulating for weeks.