Malita Investments announce new CEO and CFO

Malita Investments announced the appointment of a new CEO and CFO.

The company announced that Marlene Attard has been appointed as the CEO, while Stephen McCarthy has assumed the role of CFO.

The new appointments come months after the company, which is mostly owned by government, came under scrutiny over alleged financial mismanagement.

Last November, former Labour MEP Marlene Mizzi claimed that her 2024 removal from the chairmanship of Malita Investments plc came shortly after she objected to ministerial interference in the state-owned company’s operations.

This was followed by the resignation of Malita’s executive chair and company secretary. In December, Malita said that itsecured a potential loan that will allow it to finance its suspended social housing project in Luqa.

READ ALSO | Social housing and Malita’s €60 million finance gap

In its statement on Saturday, the company said that the new appointments are part of an effort to strengthen its management structure with clearly defined responsibilities.

Marlene Attard previously served as the Group Chief Administrative and Operations Officer at RS2 plc. She will be responsible for the overall strategic direction and the day-to-day management of the company.

Her remit includes leading the executive team, implementing board-approved business strategies, overseeing the company's property portfolio, and managing stakeholder relationships.

Stephen McCarthy was described as a qualified accountant with a professional background in the housing and property development sectors, and will lead the company's financial operations.

As the new CFO, McCarthy's responsibilities encompass financial strategy, planning, and reporting, as well as managing financial risks.

Meanwhile, Marvin Gaerty will transition from his role as Executive Chairman to Non-Executive Chairman. This shift allows Gaerty to provide strategic oversight and governance leadership to the board.