CEO of Discounter Lidl Resigns

NECKARSULM - Chief Executive Sven Seidel of discounter Lidl, one of Germany's largest supermarket chains, has stepped down due to clashing strategic views, the same reason for which his predecessor left only a few years earlier.

Sven Seidel, the CEO of German discount supermarket chain Lidl has resigned, its parent company the Schwarz Group said in a statement Tuesday. Board member Jesper Hojer (Denmark) is to take over his duties.

Mr. Seidel was made CEO of Lidl after the departure of chairman Karl-Heinz Holland in 2014, who left the company due to “unbridgeable” future strategy differences. Similarly, Mr. Seidel is now leaving due to “different views of strategic business,” according to the Schwarz Group, which has stated the split was consensual.

Lidl reported a 9.5 percent growth in revenue in 2015/2016 to €64.6 billion, or $68.9 billion.

New CEO

Mr. Hojer, the new CEO, has been with Lidl for more than 10 years and was last responsible for international purchasing. A spokesman for the Schwarz Group declined to further comment on the matter, according to Reuters news agency.