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    SBRY   GB00B019KW72

J SAINSBURY PLC

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Lidl GB boss Christian Hńrtnagel promoted to Germany role

11/26/2021 | 06:56am EST

LONDON, Nov 26 (Reuters) - The boss of discount supermarket Lidl GB, Christian Härtnagel, has been promoted to the role of CEO at Lidl Germany, the largest of the Lidl businesses, the group said on Friday.

Lidl GB said deputy CEO Ryan McDonnell, 44, will succeed Härtnagel, 39, as Lidl GB CEO next year.

Härtnagel will start in his new role on March 1 2022, ending an over five-year stint in Britain, during which Lidl GB's market share has risen from 5% to 6.2% as store numbers grew from 650 to 880 and staff numbers rose from 17,000 to 26,000.

He will replace current Lidl Germany CEO and member of Lidl’s international board, Matthias Oppitz, who will take on a new international role on the board.

McDonnell is a 21-year veteran of the group and was Lidl GB's chief commercial officer for six years before becoming deputy CEO this year. He will take up his new role on Feb. 1.

On Wednesday, Härtnagel, said Lidl GB's German owner, the Schwarz group, was not concerned about low profitability in the British business because it is investing for the long term, setting a new target of reaching 1,100 stores by 2025.

Britain's food retail sector has been transformed in the past decade by the rise of Lidl and fellow German-owned discounter Aldi, which have driven down returns at the Big Four of Tesco, Sainsbury's, Morrisons and Asda. (Reporting by James Davey; editing by Costas Pitas)


ę Reuters 2021
Stocks mentioned in the article
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J SAINSBURY PLC -1.08% 284 Delayed Quote.2.86%
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Sales 2022 29 810 M 40 398 M 40 398 M
Net income 2022 515 M 698 M 698 M
Net Debt 2022 6 357 M 8 615 M 8 615 M
P/E ratio 2022 11,8x
Yield 2022 4,22%
Capitalization 6 569 M 8 908 M 8 903 M
EV / Sales 2022 0,43x
EV / Sales 2023 0,42x
Nbr of Employees 117 000
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Number of Analysts 18
Last Close Price 283,70 GBX
Average target price 282,47 GBX
Spread / Average Target -0,43%
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Simon John Roberts Chief Executive Officer & Director
Kevin O'Byrne Chief Financial Officer & Director
Martin A. Scicluna Chairman
Richard Philip Newsome Chief Technology Officer
Phil Jordan Group Chief Information Officer
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