Popular discount retailer Dollar General will need to find a new CEO and chairman when its current leader, Rick Dreiling, retires May 30, 2015.
"Dollar General is a great company because of our people and our mission of serving others," said Dreiling. "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."
Since joining the company in 2008, the vet has increased Dollar General's sales over eighty percent to $17.5 billion in 2013, according to company officials. Over 11,000 locations currently exist in 40 American states as a result of Dreiling's efforts to increase Dollar General properties by 38 percent.
"Rick Dreiling has proven that he is clearly one of retail's leading CEOs," said Mike Calbert, lead director of Dollar General. "On behalf of the entire Board of Directors, I want to thank Rick for his outstanding leadership. 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. The Board is confident the Company is well-positioned as we search for a new CEO. We're fortunate to have Rick in his role until the new CEO assumes these duties."
