Save A Lot CEO Kenneth McGrath Makes Jump to Lidl; Gerd Chrzanowski Comments
EARTH CITY, MO - A retail leadership shake up recently rocked the newswires as Kenneth McGrath, CEO of Save A Lot, announced that he will be departing from his role at the chain. Following his step down from his position, McGrath will move to Germany-based retailer, Lidl Stiftung & Co. KG, where he will serve as Deputy Chairman.
McGrath will continue working alongside Save A Lot leaders over the next few months to help with the transition, according to an article from St. Louis Business Journal.
In a prepared statement from Moran Foods, parent company of Save A Lot, the business stated that McGrath "will remain with the company over the next few months, working closely with the Board of Directors and management team to ensure a smooth and effective transition to his successor."
Starting in October, McGrath will officially begin in his new role at Lidl, placing him in the position to potentially lead the grocer in the future, as he will be the company’s second highest-ranking executive after Chairman and CEO Gerd Chrzanowski.
"I am very pleased that with Kenneth McGrath we have been able to win back an international retail expert and experienced manager who has already contributed to our success," Chrzanowski commented in a news release.
Currently, the grocery chain operates more than 12,000 stores globally. This will be McGrath’s second time working for Lidl, having led the company’s business in Ireland and helped guide its entrance to the U.S. in 2013.
Throughout his time at Save A Lot, beginning in 2017, McGrath is credited with helping stabilize the grocer and get it back on trajectory for growth as well as position the company as a wholesale supplier to independently owned stores. His plans also included the speeding up of its remodel of stores, looking to upgrade all 1,000 locations by 2024.
As McGrath takes up this new position, how will he impact Lidl’s growth in the U.S. and abroad? AndNowUKnow will bring you the answers.