Migros Restructures Tegut, CEO Departs Amidst Job Cuts

Migros Zurich has initiated a significant restructuring of its subsidiary, Tegut, a well-known retail company based in Fulda. The restructuring plan includes the reduction of 120 jobs, a move aimed at addressing Tegut's ongoing challenges with revenue and profitability. The company has struggled to achieve consistent financial success, having reported only four profitable years in the past decade and facing a substantial loss of 50 million euros.

As part of the restructuring, Tegut seeks new operators for about 10% of its 340 stores. The company plans to implement these job cuts in a socially responsible manner. The departure of long-serving CEO Thomas Gutberlet, a key figure behind Tegut's expansion into Teo mini-markets, marks another significant change. His exit paves the way for a new leadership team, including roles such as Chief Restructuring Officer, Chief Financial Officer, and Chief Operating Officer.

Sven Kispalko from Migros Zurich will assume a leadership role, guiding Tegut through this challenging period. Despite its pioneering efforts in organic sales and recent acquisitions, Tegut acknowledges the need for a sustainable positioning in a competitive market landscape.