Maltapost seeks new chief executive
New Zealand Post’s Maltese business is searching for a new chief executive following the departure of Bob McGregor.
NZ Post subsidiary Transend, which has a 35 per cent stake in Maltapost, said it wanted a chief executive who would emphasise innovation and business development.
Transend acting managing director John Allen said in a statement today that the board of Maltapost’s decision to seek a new chief executive was supported by shareholders Malta Government Investments and Transend.
Mr McGregor, whose departure is effective tomorrow, made operational improvements in the business and oversaw the development of Maltapost’s five-year business plan, Mr Allen said.
“With the long-term business plan substantively completed, the focus will now shift to the implementation of the plan and revenue growth,” he said.
“The decision to seek a new CEO with greater emphasis on innovation and business development has been taken at an early stage and with the interests of Maltapost uppermost in mind.”
Mr McGregor took up the role on February 1 after being selected by Transend and confirmed by the board of Maltapost.
Maltapost chairman Frank Dimech, who will take up the interim running of the company, said Maltapost “remains confident in its working relationship with Transend”.
Transend, which last year got into difficulties trying to manage South Africa’s postal service, said in February it had signed a two-year management services contract for the management and operations of Maltapost.
In a separate agreement, Transend took a 35 per cent equity stake in Maltapost through the purchase of 980,000 shares for an undisclosed sum. Malta Government Investments holds the remaining 65 per cent share.
