Nick Waters, currently MindShare's chief executive in Asia-Pacific, is returning to Europe to replace Malegori.
Malegori helped to build MindShare's Italian offering before becoming the chief executive EMEA in June 2003. In his new role, he has been tasked with preserving the Italian agency's position following a potentially damaging spat between the WPP chief executive, Sir Martin Sorrell, and his former employee Marco Benatti.
Waters joins MindShare's European operation having been the chief executive in Asia since last September. He moved to Singapore in 2001 as the chief executive of MindShare South-East Asia.
Waters was previously based at MindShare's London office, running its Ford of Europe business. He will be replaced in Asia by Ashutosh Srivastava, currently the chief executive of Group M in South Asia.
Waters will assume his European responsibilities in August. He said: "The challenge will be to navigate an increasingly complex marketing landscape and ensure we supply services clients need not just today but also going forward."
Dominic Proctor, the global chief executive of MindShare, added: "We look forward to Nick returning with the energy, innovation and enthusiasm that makes Asia such a dynamic and exciting region."