Peach Property Group announced changes on its board of directors. The board will be downsized from currently six to three members. At the same time, Reto A. Garzetti, who has great property and finance expertise, will be nominated for election as the new president of the board of directors at the general meeting to be held on May 8, 2015.

The group's president, Dr. Corinne Billeter-Wohlfahrt, as well as the members of Peach Property Group's board of directors, Dr. Christian Wenger and Dr. Thomas Wolfensberger will not stand for re-election at the general meeting. Going forward, Dr. Thomas Wolfensberger will fully devote himself to his work as the group's chief executive officer. In the context of the organizational streamlining, Martin Eberhard resigns from his post as a Board member with immediate effect.

The other members of the Board of Directors, Peter E. Bodmer and Dr. Christian De Prati will be nominated for further one-year terms of office.