Lombard Bank Malta plc chief executive officer and director Joseph Said has been appointed chairman of Maltapost plc, succeeding David Stellini, who is to retain a place on the board.

The change follows the recent acquisition by Redbox Limited, a subsidiary of Lombard Bank, of an additional 25 per cent shareholding in Maltapost, raising Lombard’s total shareholding in Maltapost to 60 per cent.

The board of Maltapost plc is now made up of Joseph Azzopardi, Ian Pellicano, Joseph Said, David Stellini, Philip Tabone, and newly appointed director Aurelio Theuma, who is the chief financial officer of Lombard Bank Malta plc.