Issue link: https://maltatoday.uberflip.com/i/1464183
maltatoday | SUNDAY • 10 APRIL 2022 14 COMMERCIAL HILI Ventures has appointed experienced busi- ness leader Archie Bethel CBE as its new Chair- man. Bethel succeeds Steve Tarr who retired after a seven-year term on March 31. Mr Bethel will apply his broad experience in transforming and growing international businesses in a range of industry sectors to lead the board and set its agenda. He will guide directors to ensure op- timal decision-making outcomes aligned with Hili Ventures' values and core strengths. In a career spanning more than four decades, Bethel gained extensive international expe- rience and has been responsible for acquir- ing, growing and operating major businesses around the world. In 2021, after nearly 20 years with the com- pany, Bethel retired from his role as Chief Ex- ecutive of Babcock International Group plc, a London-based FTSE listed public company operating globally in the defence, energy and aviation sectors. He continues to hold several non-executive and independent director roles in both the private and public sectors. A Chartered Engineer, Bethel began his ca- reer in the offshore oil and gas industry after graduating from the University of Strathclyde with a BSc in Mechanical Engineering and an MBA. In 2009, the university awarded him an honorary Doctor of Science degree. He was awarded an OBE in 1996 and a CBE in 2008 for Services to Business and Enterprise in the United Kingdom. "I am honoured to be joining the Hili Ven- tures group at this exciting stage of its devel- opment," Bethel said. "I look forward to work- ing with Melo and the board to deliver our ambitious growth plans." Melo Hili, Chief Executive Officer of Hili Ventures, said: "The shareholders are delight- ed that Archie has accepted to chair the Hili Ventures group. His appointment comes at a critical moment for the business as it looks to upscale its international presence and expan- sion in key areas. We are confident Archie's leadership and experience will inspire us to reach major objectives as we navigate the ev- er-changing world order." Effective April 1, 2022, the board of Hili Ven- tures is composed of Archie Bethel (Chair- man), Melo Hili, Annabel Hili, Victor Tedesco and Jesmond Mizzi. Hili Ventures appoints Archie Bethel CBE as its new chairman Hili Ventures' new Chairman Archie Bethel CBE EY'S Industry Focus event on Manufacturing, held in collab- oration with the Malta Cham- ber of Commerce, Enterprise and Industry, provided current sector leaders with insights into the current state of affairs. The event and its expert speakers also delved into how Covid-19 pandemic, logistics challenges, sustainability considerations, trade tensions, conflict, infla- tion, and commodity shortages are forcing manufacturers to re- think their strategies and supply chains. EY outlined the results from the Future of Manufacturing Survey carried out in March among leaders from local man- ufacturing firms, which was presented by Chris Naudi, Tax Partner, and Simon Barberi, Strategy and Transactions Di- rector. The biggest impacts on their business over the next 12-18 months include increases in materials, freight costs and la- bour shortages. On the other side of the spectrum, nearly three-fourths believe COV- ID-19 effects on demand for their products will be minimal to non-existent. The biggest challenges for their businesses over the next 12-18 months include diffi- culties in sourcing materials, increases in material and com- ponent costs, and labour short- ages in the Maltese market. Material and component costs have increased at a higher rate than freight costs, while labour costs have increased the least for the sector. Employee attrition into the Government and public sec- tor is nearly as high as the rate of attrition into other manu- facturing and related sectors, while the construction sector attracts the lowest number of manufacturing employees when leaving their companies. When it comes to companies moving towards more sustain- able activities, over half stated they need financial support or guidance to make this transi- tion. Firms were also asked about the recent FATF grey listing of Malta, which saw 70% state that their investment decisions have not been affected by the grey listing. Marisa Xuereb, President of the Malta Chamber, providing her insights on the recent sup- ply chains issues facing Malta, said: "Due to the current cri- sis, manufacturing companies need to make changes in their processes practically every day which requires a great deal of agility, but we also need to con- sider to what extent this situa- tion offers some opportunities. The country also needs to be realistic about what is behind the rising energy costs, which were already rising before the conflict in Ukraine erupted. We need to invest in energy efficiency and renewables here on the island but be prepared for a green transition that will be costly." Building on the survey re- sults, George Panagiotopoulos, Associate Partner, Consulting, Supply Chain & Operations, EY Greece, provided international context around the issues be- ing faced. Mr Panagiotopolous said: "Although an increasing number of unexpected disrup- tions are hitting supply chains and impacting overall busi- ness performance, these ex- ternal pressures are driving a shift towards more sustainable business practices. Manufac- turers who invest in capability now for their people, ways of working and digital adoption, will be best poised for recovery and create long term resiliency. This resiliency will be achieved through people empowerment and accelerating the move to zero touch operations." Manufacturing survey conducted by EY outlines industries' current challenges and opportunities