Discount retailer Dollar General has promoted its chief operating officer Todd Vasos to CEO, succeeding the retiring Rick Dreiling. Vasos has been elected to the board and Dreiling will remain board chair until January 26, 2016.
“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,” said lead director Mike Calbert. “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.”
Dreiling, who had announced his intention to retire back in January, has led the retailer for the last seven years, through huge growth. The retailer said it would open 730 new stores this year and hit the 12,000-store mark last week.
“The board and I are confident that Todd is the right leader for the future growth of Dollar General,” added Dreiling. “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.”