German Grocer Lidl Names Replacement CEO After Holland Departure
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Lidl Stiftung & Co. KG said a manager from its parent company will take over as chief executive officer, a day after the German discount retailer announced that previous CEO Karl-Heinz Holland stepped down.
Sven Seidel, who has spent the last three years at Schwarz Group, will take over the helm after Holland departed due to “different, unbridgeable views” about the future direction of the company. At Schwarz, which holds the Lidl and Kaufland supermarket chains, the 40-year-old was responsible for business and development, Lidl said today in a statement.