Dollar General announced Friday (June 27) that its chairman and chief executive officer, Rick Dreiling, 60, recently informed the board of directors of his intent to retire as CEO effective May 30 of next year, or upon the appointment of a successor.
Dreiling has agreed to serve, at the discretion of the board, as chairman during a transition period following the appointment of a new CEO. He 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.
"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,” Dreiling said in the release.
The board of directors is conducting an internal and external search for a CEO