Lidl Gets 2nd CEO in 3 Years
Discount grocery chain Lidl, the German retailer poised for its U.S. launch later this year, has replaced its CEO for the second time in less than three years, according to published reports.
Lidl has promoted Dane Jesper Hojer as its latest chief executive to replace Sven Seidel, Reuters reported. Seidel, who became CEO in March 2014, is leaving due to “unspecified differences over strategy,” according to the Reuters report.
Published reports in Germany indicated that Seidel had fallen out of favour with Klaus Gehrig, head of the Schwarz Group, Lidl’s parent company. Seidel became CEO after his longtime predecessor Karl-Heinz Holland left over undisclosed differences over future strategy, Reuters reported.
A 10-year veteran of Lidl, Hojer has served as head of the retailer’s operations in Belgium and more recently of its international buying operation.
With more than 10,000 stores in 27 European countries in Europe, Lidl is working toward a U.S. launch expected in late 2017 or 2018.