December 4, 2018 / 1:09 PM / 6 days ago

Struggling Spanish supermarket chain DIA names new senior staff

MADRID, Dec 4 (Reuters) - Spanish supermarket group DIA on Tuesday announced a string of new senior hires as it struggles to turn the business around.

The retailer has failed to halt a steady erosion of market share in Spain over the past five years, as economic recovery reduced the appeal of its low-cost offering which was popular during a deep recession.

DIA named Enrique Weckert Molina, a former executive of builder OHL, as group Chief Financial Officer, replacing former finance director Armando Sanchez Falcon, who was suspended from his role in October.

“DIA is bringing in the sector’s best professionals to push ahead with an innovative turnaround,” Chief Executive Antonio Coto, a company veteran who took the helm in August, said in a statement. (Reporting by Isla Binnie; Editing by Kirsten Donovan)

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