The State Trading Organization (STO) has announced the opening of applications for a directorship position on its Board of Directors for the fiscal year 2024-2025. The application window will close on 8 April.

The state-owned company is seeking to fill the board director position representing the public shareholders. The STO Board of Directors comprises six directors appointed by the main shareholder, the government, and one board director representing the public shareholders.

The criteria for the STO board of directors are as follows: the candidate must be a Maldivian over 30 and meet the criteria for a board of director position as per the Companies Act. Additionally, the candidate must hold a degree in business from a Maldives Qualification Authority (MQA)-approved higher education institution with five years of experience or a diploma with ten years of experience. The candidate should also have a sound knowledge of the commercial sector and be qualified to analyse financial reports.

The application for the post of Board Director is available for download on the company’s website, STO said in a statement. The company has stated that it will evaluate all applications according to its guidelines and codes of conduct and interview the shortlisted candidates.

The company’s nomination and remuneration committee will submit a report to the Board of Directors, after which the directors will then nominate candidates to the shareholders. The new board director will be appointed by vote at the company’s annual general meeting.