Sven Seidel has announced a shock departure from German discount supermarket Lidl, amid conflict with its owners.
Following a near three-year stint as chief executive of the group, Lidl‘s boss will be replaced by long standing board member Jesper HÃ¸jer.
His sudden departure is reportedly due to “strategic disagreements” with Lidl‘s owner Schwarz Group, where an apparent power struggle over central operations is stirring.
Seidel replaced Karl-Heinz Holland who left under similar circumstances, attributing disagreements over future strategy to his departure.
HÃ¸jer has been at the retailer for over a decade and has held numerous senior positions such as head of its international buying operation.
Yesterday‘s grocery market share data from Kantar Worldpanel revealed that its rival Aldi made significant gains to become the UK‘s fifth largest supermarket.
Lidl also performed well in the UK, showing a 9.4 per cent boost in sales and a market share climb of 0.3 per cent to 4.5 per cent.