Nazzareno Vassallo, long-standing Chairman of Vassallo Group, announced that he will be stepping down from his current position after standing at the helm of the group for more than half a century.

The outgoing Chairman will be turning 70 later this month.

Mr Vassallo made said announcement during the group’s annual ‘Chairman’s Lunch’ event, where he also said that the leadership of the group will now be vested in his five children – Natalie Briffa Farrugia, Pio Vassallo, Christian Vassallo, Ruben Vassallo, and Charlene Vella Vassallo.

Ms Briffa Farrugia, the eldest of the five siblings, will be appointed Chairperson of Vassallo Group and will work together with Pio Vassallo, who will continue to serve as Group CEO.

Vassallo Group noted that planning for this milestone in the company’s history started years ago, when all five children were made equal shareholders of the group and assigned different leadership roles.

The transition in Vassallo Group’s leadership is set to be enacted in early 2022, spurring changes within the top echelons of CareMalta – a company owned by the group focusing on elderly care.

Mr Vassallo had taken on the role of Managing Director at Vassallo Builders back in June 1971.

Since then, he has overseen the company’s development into one of Malta’s leading groups of companies. Vassallo Group now has market share in a plethora of sectors, including but not limited to construction, property, elderly care, catering, and hospitality.

Featured Image:

Nazzareno Vassallo / Vassallo Group

Related

Christophe Berger named Chief Operating Officer at Malta-based PLACE Concierge

21 May 2024
by Anthea Cachia

He has over 25 years of experience within the hospitality and tourism industry.

Malta-headquartered Raketech announces permanent appointment of Co-Founder as CEO

21 May 2024
by MaltaCEOs

Johan Svensson had been appointed acting CEO in early 2024.

Adaptability and resilience: The two skills job candidates and employers need to master

20 May 2024
by Fabrizio Tabone

Eurostat data recently revealed that adaptability to change was the top skill requested by Maltese employers in 27 out of ...

Deputy CEO Michael Farrugia hopes The Brewhouse will ‘increase awareness’ on industrial heritage

20 May 2024
by Fabrizio Tabone

This came as The Brewhouse was given the Rehabilitation and Conservation Award at the MASP Awards.

Close Bitnami banner
Bitnami