NEWS | Wednesday, 09 March 2008

Tonio Fenech accepts Alec Mizzi’s resignation as Malta Enterprise CEO

Charlot Zahra
Finance Minister Tonio Fenech has accepted the resignation of Alec Mizzi from the position of Chairman of Malta Enterprise Corp and Malta Industrial Parks Ltd.
He also resigned from the boards of Malta Venture Capital plc and of the Grand Harbour Regeneration Corp Ltd.
In a brief statement issued by the Finance Ministry yesterday, Mizzi was quoted as saying “that he had found these challenges interesting, especially given the fact that these organisations had only recently been set up as the successors of the Malta Development Corp (MDC), METCO & IPSE.”
“He was pleased to note that the last two years were the best ever for Malta in attracting foreign direct investment.
“However, due to his other commitments in his role of CEO of the Alf Mizzi & Sons Group, Mizzi submitted his resignation from these posts and asked not to be reappointed,” the Ministry said in its statement.
Mizzi had been appointed Chairman of Malta Industrial Parks in May 2005 and of Malta Enterprise in January 2006.
A Ministry statement added that Anton Borg and Simon Vella would assume responsibilities for Malta Enterprise and Malta Industrial Parks Ltd respectively, until the new boards were appointed.
Malta Enterprise, which in the previous legislature were under Austin Gatt’s political responsibility, have now passed under the political responsibility of Tonio Fenech in the Finance Ministry in the second Gonzi administration.
This was the first high-profile resignation for Fenech in the investments arena since the change of Minister.

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