Kwik Save managing director Paul Niklas and finance director Steve Payne have left after less than four months in their posts.
The company claimed their departure was always planned, as they were both regarded as interim appointments.
In a statement issued exclusively to The Grocer, a spokeswoman for Kwik Save said: "As MD, Paul has secured and set up the groundwork for the business, defining strategy and putting Kwik Save on a solid footing. We are in the process of recruiting a new MD."
Business development director Alan Birchall has taken over as interim MD until a replacement for Niklas can be found. In a further exclusive statement, Kwik Save said: "The interim director of finance has now successfully completed his contract to form an efficient and stable department within Kwik Save. Mark Raven, the group financial director, continues in his role with overall responsibility for the Kwik Save finance function."
Niklas was appointed to lead the business at the end of February after acquisition vehicle Back To The Future, driven by Richard Kirk, chief executive of Peacock Group, bought 171 stores, the bulk of the estate.
Prior to the acquisition, the business was believed to be haemorrhaging millions per year. Niklas had vowed to return Kwik Save to its roots as a cut-price retailer refocusing on a traditional grocery offer, promising to ditch own label and non-food products.
Niklas joined from Formica UK, where he had also held the role of MD and was responsible for leading a successful turnaround strategy of that business.
Niklas was unavailable for comment as The Grocer went to press and it was unknown whether he had another role lined up.
It is believed that the remainder of the management team at Kwik Save is remaining in place.
The company claimed their departure was always planned, as they were both regarded as interim appointments.
In a statement issued exclusively to The Grocer, a spokeswoman for Kwik Save said: "As MD, Paul has secured and set up the groundwork for the business, defining strategy and putting Kwik Save on a solid footing. We are in the process of recruiting a new MD."
Business development director Alan Birchall has taken over as interim MD until a replacement for Niklas can be found. In a further exclusive statement, Kwik Save said: "The interim director of finance has now successfully completed his contract to form an efficient and stable department within Kwik Save. Mark Raven, the group financial director, continues in his role with overall responsibility for the Kwik Save finance function."
Niklas was appointed to lead the business at the end of February after acquisition vehicle Back To The Future, driven by Richard Kirk, chief executive of Peacock Group, bought 171 stores, the bulk of the estate.
Prior to the acquisition, the business was believed to be haemorrhaging millions per year. Niklas had vowed to return Kwik Save to its roots as a cut-price retailer refocusing on a traditional grocery offer, promising to ditch own label and non-food products.
Niklas joined from Formica UK, where he had also held the role of MD and was responsible for leading a successful turnaround strategy of that business.
Niklas was unavailable for comment as The Grocer went to press and it was unknown whether he had another role lined up.
It is believed that the remainder of the management team at Kwik Save is remaining in place.
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