Malvern International PLC said Thursday its Chief Executive Officer Haider Sithawalla stepped up to the deputy chairman role as Deputy CEO Sam Malafeh becomes new boss at the educational services provider.
Malvern Chairman Gopinath Pillai explained the board had “unanimously agreed” it was “important for the company to have clear leadership from someone who can focus on corporate strategy and the further development of Malvern. We believe that Sam and Haider, having been instrumental to the growth of the company to date, are ideally placed to undertake their new roles.”
Sithawalla – a former Singaporean civil servant who has served as CEO since 2015 – will be elevated to deputy chairman. Taking his place will be deputy CEO since 2016 Malafeh.
In early December, Malvern arranged a total GBP500,000 loan from two major shareholders in order to fund new projects.