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 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. According to a statement at the time, Mr. Holland had "differing views concerning the future strategy of the business."
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 has been ramping up expansion plans going head to head with rival Aldi in the U.S. in 2015 and planning to invest millions in its German branch network in the coming years.
Lidl reported a 9.5 percent growth in revenue in 2015/2016 to €64.6 billion, or $68.9 billion.
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.
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