The chief executive of Lidl Austria, Alessandro Wolf, is set to succeed Torsten Friedrich as the CEO of Lidl Switzerland in the summer of 2024, the discounter has announced.
Nicholas Pennanen, the current country manager of Lidl Finland, will take over the management of Lidl Switzerland for one year on an interim basis, the company said in a statement.
Pennanen has been with Lidl for 14 years and has served as the CEO of Lidl Finland since 2019.
Friedrich commented, "After more than 21 years at Lidl, I almost feel like part of a family. That's why I'm leaving the Lidl team with a heavy heart. I am extremely happy that we have found the perfect succession plan in Nicholas and Alessandro."
Torsten Friedrich
Friedrich has decided to leave the company at the end of September 2023, citing personal reasons.
He joined Lidl in 2002, and worked for the discounter in various countries before stepping in as the top boss of Lidl Switzerland in 2020.
Under his leadership, Lidl Switzerland expanded its operations, adding 10 and 12 new branches to its network each year.
Friedrich was also instrumental in raising the minimum wage, opening new outlets in urban locations, and advancing the company's sustainability efforts, the discounter said.
In addition, he steered the company through the pandemic and associated challenges.
Georg Kröll, director of the Lidl Foundation, stated "Torsten was able to successfully lead Lidl through difficult times. He managed to push the expansion strategy forward quickly. On behalf of the company, I wish him all the best for his private and professional future.
"We are pleased that we were able to announce his successor as Nicholas Pennanen on an interim basis, and that from summer 2024 we will have Alessandro Wolf, a Swiss national, at the helm of Lidl Switzerland."
Succession Plan
Nicholas Pennanen will take over the management of Lidl Austria as CEO after Wolf assumes his new role in Switzerland in the summer of next year.
Pennanen added, "I am convinced that I can continue the very successful course with the great team in Switzerland. As a Finn, I am particularly looking forward to the alpine country of Switzerland.
"Our countries have a lot in common. I'm very excited about Switzerland and I'm looking forward to getting to know its languages and culture even better."
Between 2008 and 2019, Wolf served in various positions at Lidl Switzerland, including as a member of the management board, as chief real estate officer, and as chief operating officer before being promoted to role of CEO of Lidl Austria.
Wolf commented, "I will push the successful development of Lidl Austria with full commitment and my team until the summer of next year.
"Then I will be able to hand over the management of Lidl Austria to the experienced hands of my successor, Nicholas Pennanen. I am very happy to be able to go back home, and to Lidl Switzerland."
