Laferla Group Founder Mark Laferla Sr has handed over his managing director role to his first two sons – Mark Jr and Keith.
The hand-over, which coincides with the Founder’s 69th birthday, sees the new Managing Directors jointly assuming their new executive positions within all Laferla companies.
Meanwhile, Mr Laferla Sr is retaining his chairmanship position.
The former Managing Director stated that he felt confident that after years of managerial and directorship experience, both Mark Jr and Keith are “more than competent” in jointly directing the Laferla Group with the same “professional ethos” he instilled in the firm over the past 37 years.
Keith took to social media to thank his father for his hard work.
“Thank you for everything you’ve done, dad. You will continue to be a role model and important part of the company as our mentor and Chairman, but finally you and mum can enjoy some well-deserved free time,” the Managing Director wrote.
A family run-business at its core, the Laferla Group is one of the leading insurance providers in Malta offering a wide range of products including but not limited to motor, health, home, and travel insurance.
He takes over from Alejandro Gosttuski, who will now take on the role of an Advisor.
The company, set to launch soon, will seek to provide clients with ‘customer-centric and innovative’ financial services.
The Malta Stock Exchange recently joined other exchanges for the inaugural Ring the Bell for Climate initiative.
Family businesses account for more than 70% of Malta’s SMEs, and are hence vital components of the local economy.