Yes, Peres has quit the Labour Party to campaign for Sharon's new centrist Kadima party although it is believed that he won't join it. In a Sharon-led government, he is set to responsible for development in Galilee and the Negev
http://abcnews.go.com/International/wireStory?id=1359176Peres said he was supporting Sharon because he had the best chance of restarting the peace process with the Palestinians
"This has not been an easy decision for me, but I found myself faced with the contradiction between the party of which I am a member, and the requirements of the political situation," Peres said.
"Without ignoring the deep connection that I have to the party's historical path and its members, I must prefer the more urgent and greater consideration … My party activity has come to an end." However, the Labour Party (according to
The Sunday Times ) announced they had secured 25,000 new members following Peretz's election as leader
Meanwhile, Likud seems to be on the brink of collapse
http://www.ynetnews.com/articles/0,7340,L-3177094,00.html Dave
P.S. I never knew that Peres is a first cousin of Lauren Bacall