"I was really happy when I heard it was Carlo Ancelotti because I have a lot of respect for him. For me it is a really good choice and I believe in him," he told Chelsea's official website.
The French international played on the left side of a midfield diamond during the Blues' recent pre-season friendly victory against Seattle Sounders.
"This year he [Ancelotti] wants to try the new system with a diamond so I have to adapt myself and that is why we are training really hard to do what the manager wants.
"It is a different role for me but that is part of my game, I can play in many positions, and I have played it a few times in Lyon when there were injuries and in the France national team I have played many times this position."
Malouda had agreed the new contract while away on holiday and is now committed to the club until 2012.
"I am really happy because it shows a mutual trust between the club and myself and for me it is just the beginning of the story," he said.
"The last six months especially I was feeling great, plus we won a trophy that was really important to me. I feel really good and you can see it on the pitch and I hope we get more trophies."
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