VBL Group announces senior leadership shake-up

VBL Group on Thursday announced that it has appointed Co-Founder Andrei Imbroll as CEO, while the other Co-Founder, Geza Szephalmi, has been named Chairman of the Board of Directors.

This means that the pair, who co-founded the real estate company in 2012, have now switched roles.

Dr Imbroll is a highly experienced negotiator and deal maker, and is responsible for the proprietary property pipeline and supervising the hospitality business. He has 15 years of international real estate and 10 years of hospitality operations experience.

Dr Szephalmi is primarily responsible for strategy and investor relations, utilising his more than 30 years of international investment and fund management experience. He also possesses substantial global real estate industry experience.

Additionally, VBL Group also announced that its Audit Committee will now be led by David Galea Souchet as Chairman. The other committee members, who are all Non-Executive Directors, are Artur Haze, Isabella Vella, and John Attard. Mr Galea Souchet and Dr Attard are the members who are competent in accounting and auditing matters.

The company also confirmed that the payment of a dividend will be effected on 24th October to all shareholders of the company on the register of members as at 7th June 2023. The total final net dividend to be paid is €180,000, corresponding to €0.0726 per ordinary share, according to an earlier announcement.

VBL Group came to fruition after Dr Szephalmi and Dr Imbroll felt that “after 50 odd years of neglect in Valletta”, the capital was a real estate entrepreneur’s “dream come true”. They planned to reposition Valletta’s real estate market “where it ought to be in the Maltese and European landscape through a unique business strategy”.