Migros boss to step down
Peter Everts has announced his decision to step down as head of Switzerland's biggest retail chain, Migros, at the end of the year.
In a statement released on Friday, Migros said Everts wanted to clear the way for his successor to continue restructuring the group. Everts has been in charge of the retail giant since 1997.
Migros said it had the greatest respect for Everts and had accepted his decision with profound regret. It hasn't yet named a replacement.
During Everts tenure, the image of the group has undergone a major change and its turnover has increased by 20 per cent.
Major milestones included the purchase of the upmarket Globus group and the development of Migros' banking activities.
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