Malita Investments has announced the appointment of a new chief executive officer and chief financial officer, months after the state-owned company faced scrutiny over alleged financial mismanagement.

Marlene Attard has been appointed CEO, while Stephen McCarthy has taken on the role of CFO. The company, which is largely government-owned, said the appointments are intended to strengthen its management structure by introducing clearer lines of responsibility.

The changes follow a turbulent period for Malita. In November, former Labour MEP Marlene Mizzi said she was removed from her position as chair of Malita Investments plc in 2024 after raising objections to what she described as ministerial interference in the company's operations. Shortly afterwards, Malita's executive chair and company secretary resigned.

In December, Malita announced that it had secured a potential loan to finance its previously suspended social housing project in Luqa, amid reports of a significant funding gap.

Attard previously served as Group Chief Administrative and Operations Officer at RS2 plc. As CEO, she will be responsible for the company's strategic direction and day-to-day operations. Her role includes leading the executive team, implementing board-approved strategies, overseeing Malita's property portfolio, and managing stakeholder relations.

McCarthy, a qualified accountant with experience in the housing and property development sectors, will oversee Malita's financial operations. His responsibilities include financial strategy, planning and reporting, as well as risk management.

Meanwhile, Marvin Gaerty will move from Executive Chairman to Non-Executive Chairman, a role that will focus on board oversight, governance, and strategic guidance.