* Paul Foley leaves by "mutual consent"
* Aldi says departure won't impact development plans
LONDON, Aug 12 (Reuters) - Fast-growing German discounter Aldi said Paul Foley, UK and Ireland group managing director, had left the business by "mutual consent".
In a statement, Aldi said Foley, a 20-year veteran of the group, was leaving to "pursue new business interests" and said his departure would not impact the retailer's development plans.
It said Armin Burger would take over Foley's responsibilities with immediate effect.
A spokeswoman for privately-owned Aldi declined to comment further.
However, Foley's departure took sector analysts by surprise.
(It) "sounds a bit sudden, so there must be more to it than meets the eye," said one, who noted Aldi's phenomenal growth had slowed of late.
Aldi's UK market share is just 2.9 percent but it has grown rapidly in the economic downturn along with other deep discounters such as Lidl.
This growth, along with a more cost-conscious mood among British consumers, prompted the launch of new discount ranges by Tesco Plc, Britain's biggest retailer, and other supermarket operators. (Reporting by James Davey; Editing by David Holmes)