Adrian Hillman has tendered his resignation from his posts of managing director and director of Allied Newspapers Ltd as well as chairman and director of Progress Press Ltd, the organisation said.
His resignation comes in the wake of allegations of wrongdoing made by journalist Daphne Caruana Galizia last Friday.
In a brief statement, the management of Allied Newspapers Ltd said Mr Hillman had written to say that he was stepping down in the best interests of the organisation and without “any admission of liability” in connection with any of the allegations levelled at him. He remains an employee of the company.
Allied Newspapers Ltd said it will be making “sufficient resources available” and cooperating fully with an independent inquiry to look into the allegations.
Mr Hillman immediately went out on leave last Friday after Ms Caruana Galizia alleged on her blog that he had received secret payments for purchases by the Allied Group from Kasco, a company owned by the Prime Minister’s chief of staff, Keith Schembri.