Dreiling to Become Senior Advisor and Remain Chairman of the Board
GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)--
Dollar General Corporation (NYSE: DG) today announced that effective
June 3, 2015, its board of directors has named Todd J. Vasos, chief
operating officer, to the position of chief executive officer and has
elected him to the board. Vasos will succeed Rick Dreiling, chairman and
CEO, who had previously announced his retirement plans. Dreiling will
remain on the board for the remainder of his term and will serve as
senior advisor and chairman of the board through January 29, 2016. The
election of Vasos to Dollar General’s board will bring the total number
of directors to nine.
“On behalf of the entire board of directors, we are excited to have Todd
Vasos as our CEO and look forward to working with him in his new role.
Todd is a proven leader and the right person to guide Dollar General as
it enters this next chapter in the Company’s history. With Todd’s
appointment as CEO and Rick’s continued service, we ensure the
continuation of both the leadership and strategy that have made Dollar
General a retail powerhouse,” said Mike Calbert, Dollar General’s lead
director.
Vasos said, “I am excited and honored to have the privilege to lead
Dollar General. I am grateful to Rick for his guidance as a mentor and
friend. Under Rick’s leadership, we have delivered exceptional results.
My commitment is to build on that success. I believe Dollar General has
an exciting future ahead and look forward to continuing to work with our
talented employees to provide our customers with the everyday low prices
that they count on from Dollar General.”
“The board and I are confident that Todd is the right leader for the
future growth of Dollar General. Todd is a highly accomplished retail
executive with whom I have had the pleasure of working for 9 of the last
12 years, including more than six years at Dollar General. I look
forward to supporting him in his new role to ensure a smooth and
seamless transition,” said Dreiling.
Calbert said, “Rick Dreiling has been an incredible leader at Dollar
General. The board is grateful for his innumerable contributions to the
Company and his leadership as CEO over the last seven years. We are
pleased that Rick will continue to be engaged in the business to ensure
a smooth transition. ”
About Todd Vasos
Vasos joined Dollar General in December 2008 as Executive Vice
President, Division President and Chief Merchandising Officer. He was
promoted to Chief Operating Officer in November 2013. Prior to joining
Dollar General, Vasos served in executive positions with Longs Drug
Stores Corporation for 7 years, including Executive Vice President and
Chief Operating Officer (February 2008 through November 2008) and Senior
Vice President and Chief Merchandising Officer (2001 – 2008), where he
was responsible for all pharmacy and front-end marketing, merchandising,
procurement, supply chain, advertising, store development, store layout
and space allocation, and the operation of three distribution centers.
He also previously served in leadership positions at Phar-Mor Food and
Drug Inc. and Eckerd Corporation.
About Dollar General Corporation
Dollar General Corporation has been delivering value to shoppers for
over 75 years. Dollar General helps shoppers Save time. Save money.
Every day!® by offering products that are frequently used and
replenished, such as food, snacks, health and beauty aids, cleaning
supplies, basic apparel, housewares and seasonal items at low everyday
prices in convenient neighborhood locations. With 11,999 stores in 43
states as of May 1, 2015, Dollar General has more retail locations in
the U.S. than any other discount retailer. In addition to high quality
private brands, Dollar General sells products from America's
most-trusted manufacturers such as Procter & Gamble, Kimberly-Clark,
Unilever, Kellogg's, General Mills, Nabisco, Hanes, PepsiCo and
Coca-Cola. Learn more about Dollar General at www.dollargeneral.com.
Dollar General Corporation Investor Contacts: Mary Winn
Pilkington, 615-855-5536 or Matt Hancock, 615-855-4811 or Media
Contacts: Dan MacDonald, 615-855-5209 or Crystal
Ghassemi, 615-855-5210
