Dollar Tree appoints new CEO

Dollar Tree CEO Mike Witynski is stepping down from his position, as well as the company’s board of directors. Executive chairman Rick Dreiling will assume the top job, effective Jan. 29.

Witynski held several leadership roles with Dollar Tree beginning in 2010 and took over as CEO in 2020. “The opportunity to work with the talented and dedicated team at Dollar Tree has been the most rewarding of my career,” said Witynski.

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“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,” said Witynski.

Dreiling served as CEO of Dollar General until his retirement from the company in 2015. According to Dollar Tree, Dreiling has a demonstrated track record of creating exceptional shareholder value, and more than 50 years of retail experience at all operating levels, including expanding the footprint and offerings of several respected retailers and leading the successful transformation of multiple retailers.

“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,” said Dreiling. “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.”

[Read more: Dollar Tree makes executive appointment]

Last summer, the discount retailer said it would restructure its executive leadership team to support the company’s growth. Since then, it has filled a number of key positions, including CFO, COO and chief development officer.

As part of its continued transformation, Dollar Tree made additional key leadership appointments in November, with Jennifer Bohaty, Terence Goods, Jennifer Silberman and Kristin Tetreault joining the organization as chief compliance officer, chief diversity officer, chief sustainability officer and chief communications officer, respectively.

Chesapeake, Va.-based Dollar Tree operated 16,231 stores under the Dollar Tree, Family Dollar and Dollar Tree Canada banners across 48 states and five Canadian provinces as of July 30. 

This story originally appeared on Progressive Grocer.