Bank of Valletta plc - Change in Chairmanship

On 28 April 2020, Bank of Valletta plc announced that following the recent resignation of Mr Taddeo Scerri as Chairman of BOV with effect from 15 May 2020, and in accordance with the bank’s Memorandum and Articles of Association, the Government of Malta has nominated Dr Gordon Cordina to be appointed as the new Chairman of the bank. It is expected that subject to regulatory approval, Dr Cordina will be assuming this post with effect from 7 October 2020, given that Dr Cordina will be fulfilling a cooling-off period of six months in view of his recent position as Director on the Board of Directors of another local credit and financial institution.

Dr Cordina is a leading economist in Malta with a professional experience spanning 25 years. He also has several years of Board and Risk Committee experience in major financial institutions in Malta and also served various roles at the Central Bank of Malta, the National Statistics Office of Malta, the University of Malta and the Malta Council for Economic and Social Development.

For the duration of Dr Cordina’s six-month cooling-off period, and subject to regulatory approval, Mr Alfred Lupi is being nominated as interim Chairman of BOV with effect from 16 May 2020. Mr Lupi was appointed to the Board of BOV in December 2015 and currently chairs the Audit Committee and is a member of the Remuneration Committee.