US discount retailer Dollar Tree has appointed Gary Philbin as its new president and chief executive, replacing long-time CEO Bob Sasser, effective 18 September.
Sasser joined Dollar Tree in 1999 as chief operating officer, before being promoted to president and chief operating officer in 2001, and chief executive officer in 2004. He will now assume the role of executive chairman of the board.
"Succession planning has been an important part of Dollar Tree's organisational efforts and culture for many years," said Sasser.
"I have been planning leadership succession for some time, and we are confident this will be a seamless transition, both inside and outside of the company. Our board of directors and leadership team have complete confidence in Gary's ability to lead Dollar Tree through its next phases of growth," he said.
Continued Growth
Newly appointed CEO Philbin joined Dollar Tree in 2001 as senior vice-president of stores. He previously worked as chief operating officer for both Dollar Tree and Family Dollar, before being promoted to the role of the company's enterprise president in January 2017.
"We have a strong, dedicated and capable leadership team in place to grow and improve both banners for many years," said Philbin.
"We look forward to driving our performance, delivering value to long-term shareholders, and providing opportunity for our many associates across the US and Canadian markets."
Dollar Tree operates over 14,500 stores across 48 US states and five Canadian provinces, with outlets under the banners Dollar Tree, Family Dollar and Dollar Tree Canada.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
