The Privatisation and Corporatisation Board (PCB) has announced that Dr Vitaliy Lyubimov has been removed as Managing Director and Chief Executive Officer of Maldives Industrial Fisheries Company Limited (MIFCO). No official reasons were disclosed for Monday's dismissal.

Dr Lyubimov, appointed on December 9, 2024, was the first foreign national to lead the state-owned company. He has a background in crisis management and holds a PhD in economics and public administration. His tenure lasted nearly three months.

His appointment followed the dismissal of his predecessor, Ahmed Shamah Rasheed, who was removed in May last year amid corruption allegations. The positions remained vacant until Lyubimov's selection.