1. Corporate Strategy

Dollar Tree names Rick Dreiling chairman and CEO

CHESAPEAKE, Va. — Dollar Tree executive chairman Rick Dreiling will take on the additional role of chief executive officer, effective January 29, the company said on Tuesday. Mike Witynski, who has been in leadership positions at Dollar Tree since 2010 and served as CEO since 2020, is stepping down from the board and leaving the company.

“The opportunity to work with the talented and dedicated team at Dollar Tree has been the most rewarding of my career,” Witynski.said. “During this especially dynamic period, we made the historic and consequential move to ‘break the dollar,’ and also rose to the historic opportunity to retool the Company’s leadership ranks to face the challenges ahead with fresh eyes. As I depart, I have full confidence that this team will continue to move the Company forward through the years ahead.”

Dreiling, 69, joined Dollar Tree as chairman last year. He was previously CEO of Dollar General, holding that position from January 2008 to June 2015.

“We greatly appreciate Mike’s contribution over his career with Dollar Tree, which included the acquisition and integration of Family Dollar, navigating COVID, and contributing to the company’s current transformation strategy,” Dreiling said. “Dollar Tree will continue to thrive, grow and win in the marketplace in this next chapter, and I’m thrilled for the opportunity to work with the extraordinary Dollar Tree team to advance our focus on delighting customers, associates and other key stakeholders.”

Ned Kelly, lead independent director of the Dollar Tree Board, also thanked Witynski for his service to the company, and expressed confidence about Dreiling’s taking on the CEO role.

“We are grateful to Mike for his contributions and leadership during this unusually dynamic time and wish him well,” Kelly said. “Rick is energized and excited about the opportunities at Dollar Tree. His decades of retail experience will serve the Company well over the years ahead.”

The post Dollar Tree names Rick Dreiling chairman and CEO appeared first on MMR: Mass Market Retailers.

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