Melo Hili, CEO of parent company Hili Ventures, has been appointed CEO of Premier Capital plc, the company announced on Monday.
He takes over the leadership of the Malta-based company following the retirement of Victor Tedesco from his roles as CEO, Director and Chief Development Officer.
Mr Hili, who is already Chairman of the company, will now also occupy the role of CEO. The positions of Director and Chief Development Officer will remain vacant for the time being, the company added.
Premier Capital is the developmental licencee of fast food chain McDonald’s in Malta, Estonia, Greece, Latvia, Lithuania, and Romania. It has over 182 restaurants spread across Europe, employing more than 10,000 people. During 2022, the company registered a 31.6 per cent increase in revenue from figures in 2021, despite the volatility and uncertainty presented by the war in Ukraine.
Referring to the fact Mr Hili will now have a dual role as Chairman and CEO, the company stated that even though Capital Markets Rules recommend that two separate individuals occupy the roles, Premier Capital’s Directors believe that Mr Hili “should occupy both positions in view of the experience and leadership skills he brings to both the Board of Directors and the executive management team of the company”.
The company added that since rules require a senior independent Director to be appointed when the Chairman and CEO is the same person, Premier Capital has decided that Claudine Cassar will occupy the role.
Premier Capital’s Board of Directors thanked Mr Tedesco for his service to the company over the years.
Mr Tedesco joined the McDonald’s team in Malta prior to the opening of the first restaurant in Malta in 1995. He served as St Julian’s restaurant manager in Malta for three years, before being appointed Operations Manager and moved to the head office. He was named Director of Operations for the Baltics in 2007, and then moved to Riga, Latvia for three and a half years. Following a stint leading operations in Greece, he returned to Malta as Managing Director for Malta and Greece in 2014.
Mr Hili joined Hili Ventures in 1988 and was appointed Managing Director of Motherwell Bridge, then a joint venture between the family business and Motherwell Bridge Group of Scotland. He later also headed the Italian operation of the company and served as Board Member of Motherwell Bridge Bhicam in the Bahamas. In 2005, he was named Developmental LIcencee for McDonald’s in Malta, and this was followed by the same licence for Estonia, Latvia, and Lithuania in 2007. He became Developmental Licencee for Greece in 2011 and for Romania in 2016. Under his leadership, Hili Ventures has diversified into new sectors including technology, hospitality and real estate.
Social image: McDonald’s Petro Ralli / LinkedIn
Premier Capital plc Chairman and CEO Melo Hili / Hili Ventures
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