Zaren Vassallo To Step Down As Chairman Of Vassallo Group
Nazzareno ‘Zaren’ Vassallo has just announced that he will be stepping down as Chairman of Vassallo Group, as he is turning 70 later this month.
The news of him stepping down from his position was announced yesterday during the annual group event known as the Chairman’s Lunch.
Vassallo has spent more than half a century in his position after he took over as managing director back in 1971.
Since his takeover, he has overseen the growth of the company into one of the leading groups of companies in Malta branching in diverse sectors, ranging from construction to care for the elderly and persons with disability, property to catering, hospitality to education.
Earlier this year he also won the EY Entrepreneur of the Year Award.
Apart from that he also announced that the leadership of the company will be vested in his five children who will all work together fulfilling different roles.
In a recent communication with the top management of the group Mr Vassallo said that he strongly believes in the collective power of his five children working together in taking Vassallo Group forward in the years to come.
The transition in the leadership of the group will take place in early 2022.
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