Inside This Issue - News
Dollar Generalís Dreiling to retire
July 7th, 2014
GOODLETTSVILLE, Tenn. – Rick Dreiling will retire as chief executive officer of Dollar General Corp. next spring or upon the appointment of a successor.
He will remain chairman during a transition period following the appointment of a new CEO.
Dreiling, former CEO of Duane Reade, was named to head the dollar store chain in January 2008 and appointed its chairman 11 months later. Under his leadership, the retailer’s annual sales increased more than 80%, rising to $17.5 billion in 2013. Its store count has increased by 38% to more than 11,000 stores in 40 states.
Announcing he will leave his post by May 30, Dreiling said, “Dollar General is a great company because of our people and our mission of serving others. I am extremely proud of Dollar General’s track record of success over the past six years, and I am honored to have had the opportunity to lead such an experienced and talented team. Dollar General is in a strong position today, and I’m confident it has excellent prospects for the future. After considerable reflection, I am at a point where it is appropriate to begin to plan for my retirement. I plan to work with the board of directors on recruiting and mentoring a new CEO.”
Lead director Mike Calbert said the company is well positioned.
“Rick Dreiling has proven that he is clearly one of retail’s leading CEOs, he said, adding that “during his tenure as CEO, Rick has driven significant shareholder value and led the company’s improvement on essentially every key operating metric. In addition, he has recruited and developed an outstanding management team and strengthened the company’s culture and mission.”