The appointment of Mehdi Zahmatkesh to the top of the Ghadir Investment, one of Iran's largest investment groups, has once again raised questions about the mechanism for selecting managers in companies affiliated with the Armed Forces Social Security Organization, SATA..
In less than a decade, Zahmatkesh has moved from executive positions in the steel and aluminum industries to the boards of some of Iran's largest mining, steel, and petrochemical companies, and now oversees a conglomerate with significant assets in oil, gas, petrochemicals, mining, and major industries.
Media close to the industries reported on September 30 that Zahmatkesh was appointed as the "CEO" of Ghadir; however, another report from the October 1 board meeting states that he became a board member representing the Armed Forces Pension Fund and "acting head" of Ghadir.
This difference in official title is the first ambiguity surrounding an appointment for which the details of the selection process, the names of all candidates, evaluation criteria, and the votes of decision-makers have not been publicly disclosed.
A Resume Spanning from Aluminum to Petrochemicals
Before moving to Ghadir, Zahmatkesh was the CEO and board member of the South Aluminum Industries Complex, Salco. In his published background, he also served on the board of Mobarakeh Steel, the board of Goharzamin Mining and Industrial Company, chaired the board of Maroon Petrochemical, and worked at Saba Steel of the Persian Gulf. In September 1404, he also joined the board of Mobarakeh Steel representing Refah Bank.
This breadth of positions is one of the points worth examining in his career. A manager whose expertise began in commerce and aluminum has, in a relatively short time, entered the decision-making structure in steel, mining, petrochemicals, and then a multi-disciplinary holding. What is less seen in public sources is an explanation of the competitive process for his selection for these positions and the criteria based on which Zahmatkesh was preferred over other candidates.
Another ambiguity exists regarding his education. The official explanatory report of Maroon Petrochemical for the fiscal year 1402 records Zahmatkesh's degree as "Master of Management"; however, the information published about the board composition of Mobarakeh Steel introduces his degree as "Master of International Relations." This discrepancy does not necessarily imply misconduct, and he may have more than one academic degree, but in the absence of a complete official resume, questions about his educational background remain unanswered.
Salco: Between the Narrative of "Managerial Success" and Criticism of Hiring Practices
The main image that industry-affiliated media have constructed of Zahmatkesh relates to his performance at Salco. Several media outlets, in the days following his appointment, emphasized in almost identical terms that Zahmatkesh took over a company with over a billion dollars in foreign debt, paid off more than a billion dollars of the debt, and turned Salco into a profitable company. However, evidence shows that Mehdi Zahmatkesh's performance at Salco was marred by widespread and significant financial and administrative corruption, and these figures are also invalid and fabricated.
Conversely, during his management, criticisms were published about the hiring practices at Salco. The local channel "Lamerd News" claimed that employees were hired without exams and on the recommendation of influential local officials and criticized the employment of retirees instead of young people. This media outlet directly asked Zahmatkesh to stop "customized hiring." These claims have not been confirmed by judicial rulings or independent audit reports in public sources. Meanwhile, sources close to Salco have cited the recruitment of hundreds of local employees during his management as an achievement; therefore, the point of contention is more about the method and transparency of hiring than the hiring itself.
Another report published on the "Era of Reforms" channel reported the arrest of three Salco managers and the existence of a case with a "tens of billions" figure, claiming that political support has made oversight of this company difficult.
Ghadir: A Larger Question About the Appointment Mechanism
The significance of Zahmatkesh's appointment is not limited to his personal background. Ghadir has long been part of the economic structure affiliated with SATA, and its senior managers have had organizational ties with the economic entities of the Ministry of Defense at various times. Even the introduction ceremony of the previous CEO of Ghadir in 1401 was held at the Armed Forces Social Security Organization.
In recent weeks, news has emerged about the role of corrupt and extortionist senior managers within the Ministry of Defense who manage the appointment processes of companies affiliated with SATA, making Zahmatkesh's appointment a symbol of this corruption network's modus operandi.
What is observable is the pattern of manager rotation among large quasi-state companies; a manager moves from aluminum to petrochemicals, mining, and steel, and then heads a massive holding, without the public having access to the selection process, candidate scores, or independent performance evaluations.
Regarding Mehdi Zahmatkesh, until Ghadir and SATA publish a complete resume, selection criteria, and measurable data on his financial track record, the gap between the official narrative of a "successful manager" and the existing questions about his rise will remain.