Updated | Former tax commissioner replaces Johan Farrugia as Malita Investments chair

Updated at 9pm with Marvin Gaerty announcement

Former tax commissioner Marvin Gaerty has been appointed of Malita Investments plc executive chair, the company announced on Tuesday evening.

Gaerty will replace Johan Farrugia who has handed in his resignation earlier on Tuesday. Farrugia was appointed executive chair last April.

“Marvin Gaerty brings extensive leadership experience and a demonstrated commitment to sound governance. The Board looks forward to working with Mr Gaerty in his new capacity and is confident that under his leadership, the Company will continue to pursue its strategic objectives whilst maintaining the highest standards of corporate governance,” a company statement read.

Malita is a publicly listed company that manages major government property projects and falls under the remit of Housing Minister Roderick Galdes.

Earlier this month, Malita admitted that it is facing "certain liquidity constraints," after it came under fire over the suspension of works at a social housing site in Ħal Farruġ. "The Board has commenced discussions with key stakeholders, including the Housing Authority and relevant government entities, regarding the future direction of the Affordable Housing Project. These discussions are ongoing and no decisions have been finalised," the company had stated.

On Tuesday, in response to coverage surrounding Malita, former Labour MEP Marlene Mizzi publicly stated that her removal as Malita’s chairperson in 2024 came shortly after an argument with Galdes.

Mizzi said that she was removed from her position a few weeks after a meeting at Galdes’s office during which she challenged what she described as his “interference in the workings of a plc” and his close contact with contractors engaged by the company.

Government owns 82% of Malita Investments, and the company has recently been the subject of criticism after a number of contractors pursued legal action to make Malita pay its dues.