In the midst of an aggressive expansion in the U.S., Lidl has announced the sudden departure of CEO Sven Seidel due to differences over strategy, according to multiple reports. The German grocery retailer has promoted Dane Jesper Hojer to the role, making him the second CEO in just three years.
Seidel became Lidl’s CEO in March 2014, but unspecified differences over strategy caused him to step down. He succeeded Karl-Heinz Holland, who also cited differences of strategy as a reason for his departure.
Hojer held a number of roles during his 10-year tenure at Lidl, including Head of Business for Lidl’s Belgium operations, and most recently, Head of Lidl’s International Buying Operation.
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Lidl is on track to becoming a key player in the U.S. grocery industry; it’s projected to generate $8.8 billion in sales by 2023.
