B&Q boss Michael Loeve, who Retail Week revealed yesterday was standing down, is to become executive vice president of Netto International.
Loeve will be in charge of Netto’s businesses in Denmark, Germany, Poland and Sweden.
The appointment marks a return to food retail for Loeve who, before joining Kingfisher-owned B&Q, was ran the Danish Co-op’s and previously led the turnaround of food retailer SuperBrugsen.
Per Bank, chief executive of Netto owner Dansk Supermarked, said Loeve would bring “a strong understanding of consumer trends and quality in volatile markets”.
Strong track record
Bank said: “Michael’s track record speaks for itself. With the further experience, he has gained in recent years in the UK, I have no doubt that he is the right person to fulfil our ambitions for Netto across the countries.
“In addition, he is a modern leader and a thoroughly decent person characterised by sound values, all in keeping with how we want Dansk Supermarked to be as a company.”
Updating business model
Netto is updating its model in Denmark and said it will “increase the pace of the expansion in Sweden and Poland while maintaining a strong regional position in Germany”.
“Taking up the position in Netto International provides me with a fantastic opportunity to work with a format where there is ambition to continuously expand, revitalise and develop the brand. That opportunity was worth returning home for”, said Loeve.
He will join Dansk Supermarked’s executive committee and is expected to join the retailer on September 1.