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Dollar Tree announces retirement of executive chairman

Bob Sasser’s retirement follows a tenure with the company of more than 20 years, during which he aided Dollar Tree’s growth in the value retail sector.

Dollar Tree recently shared that its executive chairman of the board of directors, Bob Sasser, is retiring. 

Sasser plans to depart prior to the company’s 2022 annual meeting of shareholders, and in recognition of his service will be awarded the honorary title of chairman emeritus, the company said. 

“I am honored to have had the opportunity to lead this great company and work with such a talented management team to grow Dollar Tree into a leading retailer,” Sasser said. “Dollar Tree has made, and continues to make, an incredible and positive impact on the communities it serves, and I have confidence the company will continue to build on the brand that customers have come to know and trust. My time with Dollar Tree has been extremely fulfilling, and I look forward to seeing all that Mike, the board and the leadership team accomplish in the years ahead.”

[Read more: Dollar Tree to raise prices]

Following a tenure of more than 20 years with Dollar Tree, Sasser first began his career within the company in 1999 as chief operating officer. Since then he has held an array of roles that range from president and chief operating officer and CEO. 

“Bob Sasser has left an indelible mark on Dollar Tree as a result of his outstanding leadership skills, business acumen and commitment to excellence,” Michael Witynski, president and CEO, said. “He has been the engineer of the company’s success and growth over the last 23 years. During his thirteen-year tenure as CEO, shareholder value increased 733%, a testament to Bob’s leadership. He successfully drove growth and improved efficiencies throughout all levels of the business, while providing the strong leadership that enabled Dollar Tree to withstand pressures from market downturns and related industry headwinds. It has been a privilege to work closely with Bob over many years, and while we will certainly miss his leadership and counsel, Dollar Tree is a stronger company because of him.”

He also served as executive chairman of the board of directors for the past five years, overseeing numerous transformational changes to the business.

[Read more: Dollar Tree welcomes new executive team member

“Dollar Tree would not be the company it is today without Bob Sasser,” Gregory Bridgeford, lead independent director, said. “Under Bob’s visionary leadership, Dollar Tree made an incredible transformation from a regional retailer with less than $1 billion in annual sales to an iconic retail organization across the U.S. and Canada, with more than $25 billion in annual sales and a No.111 ranking on the Fortune 500. On behalf of the board and the entire Dollar Tree organization, I want to congratulate and thank Bob for his commitment, dedication and leadership for more than two decades.”

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