Strategy is the ultimate driving force for Lidl, or so it appears after the latest announcement concerning the company’s executive lineup. Sven Seidel has stepped down from his position as CEO, with Dane Jesper Hojer promoted to take his place.
The Schwarz Group, owners of the chain, stated that Seidel left the company over to “different views of strategic business,” and also disclosed that the split was consensual. Seidel served in this position since 2014.
Serving Lidl for over 10 years, Hojer brings a variety of leadership acumen to serve in his new role. Hojer was previously Head of Business for Lidl’s Belgium operations, where news source CPH Post Online reported that he increased revenue by 59 percent. Most recently, Hojer served as Head of Lidl’s International Buying Operation.
This is the second time the company has parted ways with its executive leader over differences in strategy. Seidel’s predecessor Karl-Heinz Holland, who served as CEO for roughly six years, also left the company due to “unbridgeable” future strategy differences, according to Handelsblatt Global.
The CEO shakeup is effective immediately, according to Lidl. Reuters also noted that rumors have swirled since last year in regards to Seidel’s position within the company.
So, with strategy top-of-mind, where is Lidl looking to head next? With a launch on U.S. soil happening soon, a new format, and reported investments planned for its German branch network in the works, it looks as though the right strategy will continue to be preeminent for the growing retailer.
Deli Market News will keep an eye on the buy-side market as decisions like these roll in, with subsequent impacts on the sector.
