Bank of Valletta chairman John Cassar White is to step down from the bank's board once his term expires in mid-December, the bank announced in a statement today. 

Taddeo Scerri, who chairs BOV's Audit Committe and was managing partner at RSM Malta before retiring in 2015, has been nominated by the government to take Mr Cassar White's place. 

Taddeo Scerri has been nominated to become the bank's next chairman.

Mr Cassar White became BOV chairman in April 2013, after spending most of his career serving the bank in various senior roles. 

Should shareholders at the bank's December 16 Annual General Meeting accept the nomination, Mr Scerri - a qualified accountant who was the managing partner at RSM Malta before retiring at the end of 2015 - will assume the bank's chairmanship for a one-year term. 

The government has also nominated Anita Mangion, who sits on the board at Malta Industrial Parks, as a director on the BOV board. Unicredit S.p.A. has also nominated Antonio Piras, who is vice chairman of Iacobucci Aerospace HF, to the bank's board. 

Taddeo Scerri was appointed to the board of Bank of Valletta in April 2013. Aside from chairing the bank’s Audit Committee, he is also a member of its Remuneration Committee and Asset and Liability Committee. Previously, he was the financial expert on the local UEFA Clubs Licensing Board and was also a member of the Malta Football Association’s Finance Committee.

Anita Mangion is a board director at Malta Industrial Parks and heads the Business Development of an IT company. She started her professional career at the Malta Stock Exchange before moving on to the Malta Financial Services Authority.

Aside from his Iacobucci Aerospace role, Antonio Piras was until recently the vice chairman of Eurofidi Soc. Consortile Garanzia Fidi s.c.a.r.l. (Turin). Mr Piras was a director of Equitalia Centro S.p.A. (Florence). He also held various senior management positions at UniCredit Group.

There is no matter concerning Mr Scerri, Ms Mangion and Mr Piras which requires disclosure under Listing Rule 5.20.5 to Listing Rule 5.20.9, BOV said in a statement announcing the nominations. 

At the bank's December 16 AGM, shareholders will be electing the remaining six directors, who will then undergo an evaluation process by regulators.