STO opens applications for Public Shareholder Director position

State Trading Organization (STO) has today opened applications for the position of Director representing public shareholders on its Board of Directors for the upcoming one-year term.

According to the company’s Articles of Association, based on the current shareholding ratio, one director must be elected to the board by the public shareholders, while six directors are to be elected by the government, or the majority shareholder.

To be eligible for this position, applicants must be Maldivian citizens aged 30 or older who own shares in STO. The company encourages shareholders with adequate education and experience in the fields of business and management to apply.

Furthermore, as in previous years, STO has specifically encouraged as many women as possible to express interest and compete for the board membership this year.

Shareholders interested in applying for the board position must submit their forms before 3:00 PM on the 25th of next month.

Applications should be submitted via email, addressed to the STO Secretariat. Eligible candidates from among the applicants will be interviewed by the company’s Nomination and Remuneration Committee under the "Board Candidacy Guideline."

The names of the candidates selected through these interviews will then be proposed at the Annual General Meeting.