Major (Retd) Najah Appointed as Fenaka’s New Managing Director

Major (Retd) Mohamed Najah has been appointed as the new Managing Director of State-owned utility company, Fenaka Corporation Limited.

Najah replaces Muaz Mohamed Rasheed who had stepped down from the earlier Sunday.

The Privatization and Corporatization Board (PCB) said it had accepted Muaz’s resignation, announcing Najah’s appointment shortly after.

In the letter to the President, Muaz said he was stepping down from his post with immediate effect, as he does not see a way to steer the company out of its present financial crisis with him at the helm.