Petersen steps aside at Nuance

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The Nuance Group ceo will become chairman when he is succeeded by Roberto Graziani on May 1

The Nuance Group president and ceo Peter Petersen is to retire from his executive post in April, when he reaches the Swiss age of retirement, 63. He then becomes chairman of the board. He will be replaced by Roberto Graziani as ceo and president from May 1. Graziani is currently a member of the board.

Petersen said: ?Nuance, as the rest of the travel-retail industry, has seen a couple of difficult years. I am happy to say that we have mastered all these challenges. I have reached an age where I am looking forward to my well-earned retirement, and this is a good time to hand over my responsibilities to Dr. Roberto Graziani, who will reinforce Nuance's experienced management team and people. Mr. Graziani will guarantee the continuity of the company strategies, having already influenced and contributed over the last 15 months to The Nuance Group as a member of the board of directors and board committee?.

Giuseppe Stefanel, speaking on behalf of Nuance's shareholders added: ?We identified Roberto Graziani, whom I have known for a long time, as a person whot could combine in-depth knowledge of the retail industry with an already-established exposure to Nuance's business. I wish Roberto a successful future in this new role and hope he will be able to contribute his experience to what we already consider a first class management team?.

The shareholders thanked Petersen for his contribution to Nuance, especially over the past two years, as he led the company through a turbulent time. Stefanel concluded: ?His presence as chairman of the board of directors will represent a very relevant contribution to the future of the company and guarantee the necessary continuity in its strategies.?