Borders Group CEO Josefowicz announces retirement |

Borders Group CEO Josefowicz announces retirement

Daily Staff Report

ANN ARBOR, Mich. – The top executive at Borders Group Inc. will retire within the next two years, the bookseller said Monday.Greg Josefowicz, Borders president, chairman and chief executive officer, joined the company as president and CEO in November 1999. He became chairman of the board in January 2002.The board has formed a committee of independent directors to select a replacement, and Josefowicz, 53, will stay on until one is named. He also will assist the board as needed through the end of fiscal 2007.Before joining Borders, Josefowicz served as president of Jewel-Osco, a division of Albertson’s Inc.Borders shares rose 3 cents to $23.69 in afternoon trading on the New York Stock Exchange.Ann Arbor-based Borders has more than 1,200 stores and more than 34,000 employees worldwide.—On the Net:Borders Group Inc.:

Support Local Journalism