STO encourages women to apply for board directorship

State Trading Organisation (STO) has opened applications for board directorship and encouraged women to apply.

STO stated that shareholders interested in serving on the board are invited to submit applications before 1000hrs on April 24. The company encouraged all interested members, especially female members, to apply for the position.

The STO board of directors consists of one member representing public investors and six members representing the government. STO opened applications for the seat representing public investors. STO stated that its directors should be experienced in business and management and that the company is seeking more female directors in accordance with the Corporate Governance Code of the Capital Market Development Authority (CMDA).

STO will accept applications from Maldivian shareholders who have reached 30 years of age. They are required to have obtained an undergraduate degree and five years of experience or have achieved a diploma-level education and 10 years of experience. A committee will evaluate the applicants, conduct interviews and submit its report to the board of directors. An applicant will be chosen by a vote from investors at the annual general meeting.