Dollar General announces changes to board

GOODLETTSVILLE, Tenn. — Dollar General Corporation on Wednesday announced the resignations of Raj Agrawal and Adrian Jones as members of its board of directors, effective Dec. 5, 2013. Agrawal, a member of KKR, and Jones, a managing director at Goldman Sachs, have served as directors of Dollar General since 2007.

The entity controlled by KKR and Goldman Sachs, which purchased the company in 2007, now owns less than 2% of the company's outstanding common stock. Based on this reduced level of ownership, KKR and Goldman Sachs have determined to reduce or eliminate, as applicable, their representation on the company's board of directors. Mike Calbert, a member of KKR, will continue to serve as the lead director.

"Raj and Adrian have made substantial contributions to the success of Dollar General," stated Rick Dreiling, Dollar General chairman and CEO. "Their judgment and financial acumen have benefited both Dollar General employees and shareholders, and I appreciate their support over the years. On behalf of the entire board of directors, I thank them for their service to Dollar General."