Etienne Borg Cardona named Board Chairman at Debono Group

Etienne Borg Cardona has been appointed Board Chairman at Debono Group, the company shared on Friday.

In addition to his appointment, Debono Group also announced that Juanito Camilleri has joined as a Non-Executive Board Member, together with Chairman of its Investment Committee and Remuneration Committee. Dr Borg Cardona and Professor Camilleri join the other members Geoffrey Debono, Michael Debono, and Therese Debono on the Board of Directors.

The group’s committees received an additional boost through the appointments of Mario Camilleri as Chairman of the Audit Committee and David Vella as Consultant to the Board of Directors.

Mr Debono, CEO of Debono Group, underscored the significance of these crucial appointments, stating: “As the third generation of family leaders of the group, we remain steadfast in our commitment to bring onboard the finest talent to complement the group’s executive team.”

“The appointments reaffirm the shareholders’ desire to have the right framework to ensure the long-term success of the business, all the while strengthening the group’s environmental, social, and corporate governance,” he added.

Commenting on the additions, newly appointed Chairman Dr Borg Cardona added that he is “delighted to welcome the new appointees to the Board and its Sub-Committees”, as each individual brings “significant experience and expertise to the leadership team”.

“I look forward to working with them as we execute our long-term strategy,” he said, before thanking his predecessor Tony Mahoney for his “sterling contribution and dedication”.

Dr Borg Cardona (pictured above) is a Certified Public Accountant by profession and holds a Doctor of Philosophy in Leadership and Management from Cranfield University, a qualification he completed earlier this year. With a 30-year career in leadership positions in the private sector, he is also Founding Partner and Director of Capital Advisory.

He currently sits as an Independent Non-Executive Director on boards of listed, regulated, and private local and international companies in various industry sectors, and is also a Fellow of the Chartered Associations of Certified Accountants and of the Malta Institute of Accountants, where he was elected to council between 2012 and 2021. Dr Borg Cardona is currently a Council Member of the Institute of Financial Services Practitioners and chairs the Directors and CSP Sub-Committee.

Professor Camilleri is Rector Emeritus and Resident Professor and Chairman of the Centre for Entrepreneurship and Business Incubation at University of Malta. Throughout his career, he has occupied various senior positions within both public and private organisations, in sectors ranging from higher education and research, telecommunications, information technology, banking, and entrepreneurship.

He is also an Independent Non-Executive Director at APS Bank Malta plc and Chairman of its Risk Committee. He is Non-Executive Director at Prohealth Ltd and its subsidiary TrioMed, together with Malta University Investments Portfolio and is Chair of its subsidiaries, De Novo Cell Ltd and FLASC B.V.

Mr Camilleri has a banking career that spans over 20 years, later on serving as CEO of a leading group of companies. He specialises in the planning and raising of finance to support re-structuring plans and growth strategies, as well as overseeing the implementation of business plans.

Throughout the years Mr Camilleri has been involved in corporate re-organisations, management buyouts, business mergers, acquisitions and transfers, capital markets listings and the preparation thereof, revision of corporate governance systems, and strategic planning. He also spent six years as Visiting Lecturer at the Institute of Financial Services Malta.

Mr Vella co-founded Altaro Software in 2009 and served as CEO until his exit in July 2021, when Altaro was successfully acquired by German internet security company Hornetsecurity. During his time at the helm, the company transitioned from a bootstrapped enterprise with four employees to an international company with 120 employees worldwide by 2020.

He is currently engaged in mentoring and investing in technology-driven start-ups, C-level advisory, and helping mature organisations with execution, board advisory, and going international efforts and strategies.

Founded more than 60 years ago by Michael Debono, Debono Group first started importing and retailing Toyota vehicles, yet is now more than just a Toyota dealership. It has now grown and evolved, having delved into various areas including the selling and servicing of commercial vehicles and motorcycles, and also invested in an engineering company and a technology company. It has also recently turned its attention to the development of shared transportation solutions.