Save-A-Lot Announces Kenneth McGrath as New Chief Executive Officer
EARTH CITY, MO - The newly acquired Save-A-Lot chain is ready to take on the rest of the year with a new CEO, appointing Lidl veteran Kenneth McGrath. Effective April 21, 2017, McGrath will be taking over for Eric Claus, who mutually agreed with new owner Onex to part ways.
“The opportunity to lead Save-A-Lot at this exciting phase is a real privilege,” McGrath said upon his appointment. “Save-A-Lot has a proud history of delivering exceptional value to its customers throughout the U.S. I am looking forward to working with Save-A-Lot’s dedicated associates and licensees to serve customers in ways that enhance their experience and, in doing so, driving a period of sustained growth for the organization.”
Over his career, McGrath has gained much experience in the discount grocery industry. According to a press release, McGrath spent 13 years with Lidl in executive roles including CEO of Lidl Ireland from 2009 to 2013, and CEO of Lidl USA from 2013 to 2015. As CEO of Lidl Ireland, McGrath was tasked with overseeing a period fraught with growth for both customer numbers and revenue, while also maintaining leadership in cost within Lidl’s global operations. For these reasons, McGrath was selected by Lidl to spearhead the company’s entry into U.S. markets, before leaving to become CEO of the Caribbean and Central America region at wireless telecommunications firm Digicel where he had responsibility for 26 markets comprising $2 billion in annual sales.
“We are thrilled that Kenneth has chosen to lead Save-A-Lot as we chart a new course for the company after its separation from SuperValu,” explained Matthew Ross, Chairman of the Save-A-Lot Board of Directors and Managing Director at Onex. “Kenneth is a strong executive that brings to Save-A-Lot tremendous experience in hard discount retailing. He is highly capable of building a world-class organization, investing in the company’s capabilities and systems, and returning Save-A-Lot to industry-leading growth by leveraging its unique market position.”
Ross also commented on the departure of current CEO, Eric Claus, stating, “We want to thank Eric for his contributions to Save-A-Lot over the past year. Eric is an outstanding retailer and led Save-A-Lot through a difficult separation process.”
How will the newly appointed Lidl vet move Save-A-Lot forward as the retailer embarks on its new path? Stay tuned to AndNowUKnow as we continue to focus our eyes towards the buy-side.
