A senior executive at Norwegian retail giant Norgesgruppen is to join Swedish rival ICA to lead the company’s business in Norway.
Thorbjørn Theie, CEO of Norgesgruppen’s Kjøpmannshuset unit, will become chief executive of ICA Norway by June.
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“I am thrilled about this challenge. I will use all the experience that 17 years as a leader within Norwegian retail and Norgesgruppen has taught me. I am assured that I, together with all the competent retailer and employees in ICA Norway, will take our competitors by surprise and impress the customers going forward,” Theie said.
He will succeed Antonio Soares, who plans to retire. Soares took the role to lead ICA’s Norwegian unit in 2008 when it moved from the retailer’s Baltic subsidiary Rimi Baltic, where he was chief executive.
Last week, ICA said its sales had increased 1.4% in 2011; the retailer’s full results will be published next month.
ICA’s Norwegian business had a challenging 2011, with sales down 3% in the first nine months of the year. The retailer made a SEK592m (US$87.3m) goodwill impairment on its Norwegian unit last year, which meant profits in the first nine months of 2011 were down.
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