Metcash's supermarkets division's chief executive Fergus Collins has stepped down after 13 years at the company.
The move comes after the company delivered a profit warning in December, saying full year underlying earnings could fall by up to 22 per cent when it reports in June.
Metcash supplies to IGA, Foodworks, Foodland and Lucky 7 stores.
Group chief executive Ian Morrice will take over until a replacement is found.
The grocery wholesaler is spending $675 million on a revamp aimed at stopping the bleeding caused by strong competitors such as Aldi and Costco.
The company's sharessince November have fallen to below $1.50, wiping out more than $1.3 billion in shareholder value.
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