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Dollar General’s CEO to retire

Todd Vasos will depart as CEO on Nov. 1, and Jeffery Owen, chief operating officer, will succeed him in the role.
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Jeffery Owen

Dollar General is about to undergo a change in its leadership.

The Goodlettsville, Tenn.-based company announced that Todd Vasos will be retiring from his role as CEO, effective Nov. 1.

Following the announcement, the retailer shared that its board of directors approved Jeffery Owen, chief operating officer since 2019, as its incoming CEO.

[Read More: Dollar General elevates several leaders, welcomes new executive]

“On behalf of the board of directors, I want to thank Todd for his many years of service to Dollar General, his outstanding leadership, commitment to our values and dedication to the company, its employees, customers, communities and shareholders. Todd led Dollar General through a period of significant transformation, accelerated growth and innovation. We are a stronger, more resilient, and longer-term strategically driven organization than when he took the reins in 2015,” said Michael Calbert, chairman of Dollar General’s board of directors.

“DG is a better company today as a result of Todd’s leadership. The board is looking forward to continuing this strong trajectory under the leadership of Jeff Owen, who is a strategic thinker, strong collaborator and proven leader known for his motivational leadership and deep knowledge of DG,” Calbert said.

To assist in the transition of leadership, Vasos is expected to serve in a senior advisory position from Nov. 1 to April 1, 2023, at which time he will retire from the company.

[Read More: Dollar General plans to go international with Mexico locations]

In addition, Vasos is expected to enter into a two-year consulting agreement and continue to serve as a member of the board following his retirement, the company said.

Vasos served as CEO and as a member of the board of directors since June 2015. He joined Dollar General in 2008 as executive vice president, division president and chief merchandising officer, and also served as chief operating officer from 2013 until being named CEO.

“Serving my fellow employees, our customers and our communities as CEO has been the greatest privilege of my career,” Vasos said. “Together, we ushered in an era of unrivaled growth while staying true to our mission of serving others. Today, we are so much more than a dollar store, proudly serving millions of Americans as their neighborhood general store. Having worked with Jeff for many years, I am confident in his leadership abilities and capability to lead Dollar General into our next chapter of growth and service.”

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Owen was named chief operating officer in 2019 and previously served as executive vice president of store operations from 2015 to 2019. He also was senior vice president of store operations from 2011 to 2014. Prior to August 2011, he served as vice president, division manager; retail division manager; senior director, operations process improvement; and store manager, among other roles.

Under Vasos’ leadership, the retailer created and delivered on key strategic initiatives, including self-distribution of frozen and refrigerated goods (DG Fresh), as well as various nonconsumable initiatives, including its newest retail concept pOpshelf, and significant digital expansions, the company said.

“I am deeply honored to have the opportunity to build on Todd’s incredible tenure as CEO,” Owen said. “I am equally humbled to lead Dollar General as we continue to serve our customers with value and convenience, support the communities we proudly call home, and provide our employees with career and growth opportunities.”

[Read More: Dollar General, DoorDash offer on-demand delivery]

Owen continued, “For the past three decades, I’ve grown and developed within our company, and I couldn’t be prouder to serve as CEO alongside an amazing team in our stores, distribution centers, private fleet and store support center.”

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