Foley, who had worked at the deep-discount chain for 20 years, has left to pursue new business interests. He will be replaced by Armin Burger, a director at the company who has run the business in Austria in the past.
Foley took up the position of managing director of UK and Ireland in 2000. He recently outlined the chain's expansion plans in the UK, with the aim of bringing its current store total of around 500 to 1500. The company said that its plans for future development remain unchanged.
When the UK entered the economic downturn deep discounters thrived. This growth now appears to have stalled according to TNS Worldpanel research in the 12 weeks to 12 July 2009.
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