Goodlettsville, Tenn. -- Dollar General announced that CEO and chairman Rick Dreiling plans to retire as chief executive effective May 30, 2015, or when a successor is appointed. The 60-year-old Dreiling has agreed to remain as chairman during the transition process once a new CEO is named. Family Dollar said it is conducting an internal and external search for a chief executive.
Dreiling has served as CEO since January 2008, and was named chairman of the board in December 2008. Under his leadership, the company’s annual sales have increased more than 80% to $17.5 billion in 2013, and store count has increased by 38% to more than 11,000 stores in 40 states.
“Rick Dreiling has proven that he is clearly one of retail's leading CEOs,” said Mike Calbert, the company's lead director. “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.”