Aldi UK and Ireland managing director Paul Foley is to step down from the discount grocer with immediate effect.

Foley will be replaced at the helm by Armin Burger.

Aldi said the decision for Foley to step down is by mutual consent, and Foley is leaving to pursue new business interests.

Aldi said Foley was key to challenging and changing traditional market perceptions to establish the discounter as a leading brand offering high-quality and best-value products.

Foley said: “I have enjoyed my 20 years with Aldi and worked with a fantastic team of directors, managers, staff and business partners.”