The Privatization and Corporatization Board (PCB), the parent body of state-owned companies, has announced the reappointment of Mohamed Shamy Adam as Chairman of Road Development Corporation Limited (RDC).

Mohamed Shamy Adam, who had previously served in the same position, was first appointed as Chairman in January 2024. He was dismissed from the role on 27 April 2025, a little over a year later, and was also removed from the board of SME Development Finance Corporation (SDFC) on the same day.

Although the reason for his dismissal from PCB has not been disclosed, it is known that he later joined the board after being let go from SDFC. His reinstatement as Chairman of RDC was confirmed on Thursday.

At the same time, RDC has seen changes in its top management. Former State Minister of Housing, Ibrahim Nazeem, has been appointed as Managing Director of the corporation. He succeeds Ali Zuhair, who has taken up the role of Managing Director at Housing Development Corporation (HDC).