Lidl CEO Holland Steps Down Over "Unbridgeable" Strategy Differences

German discount supermarket chain Lidl announced today that it has removed Karl-Heinz Holland from h…

German discount supermarket chain Lidl announced today that it has removed Karl-Heinz Holland from his role as the company's chief executive officer.

In a statement issued this morning, the hard-discounter citied "unbridgeable" differing views over the company's future strategy as the reason for Holland's departure.

The company did not make any indication as to who might replace Holland, who had been with Lidl for just over 23 years. Holland was appointed CEO in 2008, and previous to that had spent 12 years on the board of Lidl Stiftung & Co KG.

According to German media reports, the long-time purchasing manager of Lidl Dawid Jaschok has also left the company.

Based in Neckarsulm in southern Germany, Lidl is owned by Germany's third-richest man, Dieter Schwarz.

Lidl, which opened its first store in 1973, is reportedly set to follow its rival Aldi into the United States next year.