Housing Development Corporation (HDC) board member Yoosuf Waheed has been removed from the company’s board of directors, the Privatization and Corporatisation Board (PCB) has confirmed.

The PCB said Yoosuf’s dismissal from the HDC board took effect from Monday.

Yoosuf was appointed to the board in September 2024. He holds a Master of Professional Accounting and Finance from the University of South Australia.

His removal comes after scrutiny surrounding the HDC board in 2024. During an investigation conducted in 2024, all board members, including then Managing Director Fazul Rasheed and Yoosuf Waheed, were temporarily suspended.

The suspension was lifted by the PCB four days later.

The Government has recently introduced a number of changes to leadership positions in State-owned companies as part of efforts to strengthen the management and operations of Government enterprises.