Migros Group Names Isabelle Zimmermann As New CFO
Swiss retailer Migros has appointed Isabelle Zimmermann as its new chief financial officer, effective 1 January 2022.
Zimmermann is an accomplished professional with many years of international experience in top financial roles.
Currently, she serves as the head of corporate audit and risk management at the Hilti Group.
She has been a part of the Hilti Group since 2004 and has held various financial positions for the company in Schaan in Liechtenstein.
She also served as the CFO of Hilti Germany and the Central Europe region from 2013 to 2019.
She holds degrees in business education (Mag.rer.soc.oec.) from the University of Innsbruck, among others, as well as a federal diploma in auditing from the Bern Chamber of Trustees.
The board of directors of the Federation of Migros Cooperatives also elected Zimmermann as a new member of the MGB General Management.
'An Experienced Personality'
Commenting on her appointment, president of general management at Migros, Fabrice Zumbrunnen, said, "I am very pleased that with Isabelle Zimmermann, we have been able to gain an experienced personality with proven financial and management expertise for the general management."
Zimmermann will succeed Jörg Zulauf, who will retire from the company after serving as the finance chief for more than 21 years.
Under his leadership, the company closed numerous important portfolio transactions, introduced two new accounting models (IFRS and SWISS GAP FER), and realigned the treasury and financing set-up to ensure an adequate risk structure and financial policy.
Zumbrunnen stated, "Jörg Zulauf played a key role in the successful development of Migros Group for more than 20 years. His know-how and commitment have placed Migros Group in a strong and financially sound position today. I would like to take this opportunity to thank him for his extraordinary commitment."