Following internal talks with German discounter Lidl, CEO Sven Seidel has announced he will step down immediately, ending a 3-year stint as the company's leader.
Former CEO for Lidl Belgium takes control
In 2014, Seidel took over from Karl-Heinz Holland, streamlined the company's management and took the company into the United States. Disagreements about the discounter's strategy now force him out of the company, reinforcing month-old rumours that Klaus Gehrig (CEO for Lidl's parent company Schwarz Group) was not willing to continue with Seidel.
Danish Jesper Hojer, who has been with the company for more than 10 years, is the company's new CEO. He was Lidl Belgium's CEO and also took charge of Lidl's "international purchasing" division.