Kenneth McGrath, the current CEO of Save A Lot, rocked newswires last week when it was announced he will be departing from his role at the chain. McGrath stated he will be stepping down to move to Germany-based retailer Lidl Stiftung & Co. KG, where he will serve as Deputy Chairman.
First stepping into his CEO position in April 2017, McGrath has served at the helm of Save A Lot for a little over four years. He had originally spent 13 years with Lidl in various executive roles before being tapped to serve for Save A Lot in his current position. According to St. Louis Business Journal, McGrath will continue to work alongside Save A Lot leaders over the next few months to help with the transition.
According to a prepared statement from Moran Foods, the parent company of Save A Lot, McGrath “will remain with the company over the next few months, working closely with the Board of Directors and management team to ensure a smooth and effective transition to his successor.”
Starting in October, McGrath will officially begin in his new role at Lidl, placing him in the position to potentially lead the grocer in the future, as he will be the company’s second-highest-ranking executive after Chairman and CEO Gerd Chrzanowski.
“I am very pleased that with Kenneth McGrath we have been able to win back an international retail expert and experienced manager, who has already contributed to our success,” Chrzanowski commented in a news release.
Currently, the grocery chain operates more than 12,000 stores globally. McGrath will be returning to Lidl to further build on his success with the company, which includes leading the company’s business in Ireland and helped guide its entrance to the U.S. in 2013.
Throughout his time at Save A Lot since 2017, McGrath is credited with helping stabilize the grocer and get it back on a trajectory for growth as well as position the company as a wholesale supplier to independently owned stores. His plans also included the speeding up of its remodel of stores, looking to upgrade all 1,000 locations by 2024.
Congratulations to Kenneth McGrath on his next step!