Last updated on October 31st, 2023 at 04:32 pm
Goodlettsville, Tennessee-based Dollar General Corp. has named Todd Vasos as CEO, effective today.
Vasos, who previously served as Dollar General’s CEO from June 2015-November 2022, has agreed to return to lead the company for the foreseeable future. He succeeds Jeff Owen, whose separation from the company and resignation from its board is effective today.
“The board has tremendous respect for Jeff and greatly appreciates his many contributions to the company, especially during his long tenure leading our retail operations,” said Michael Calbert, chairman of the board of directors.
“However, at this time the board has determined that a change in leadership is necessary to restore stability and confidence in the company moving forward.
“Since Todd’s retirement in April, he has remained active as a member of our board and is acutely aware of the challenges facing our business and the industry more broadly. We are confident Todd’s deep expertise and familiarity with Dollar General, as well as the strong relationships and respect he has maintained with our executive team, will support a seamless transition.”
Vasos commented on his appointment, “I am honored to be rejoining Dollar General at this pivotal time for our company. I look forward to getting back to work with the broader team as we strive to return to a position of operational excellence for our employees and customers and deliver sustainable long-term growth and value creation for our shareholders.”
During Vasos’ seven years as CEO, he led the company through a period of significant transformation, accelerated growth and innovation. Under his leadership, Dollar General expanded its store base by about 7,000 stores, added 60,000 net new jobs, increased annual sales revenue by more than 80 percent and more than doubled its market capitalization to approximately $58 billion.
Vasos joined Dollar General in 2008 as EVP, division president and CMO and was promoted to COO in 2013. He was named CEO and joined the company’s board in June 2015. His first tenure as CEO concluded in November 2022, at which time he transitioned to the role of senior advisor, prior to his retirement from the company in April.
Before joining Dollar General, Vasos served in leadership positions with Longs Drug Stores Corp., Phar-Mor Food and Drug Inc. and Eckerd Corp. Vasos has served as a director of KeyCorp since July 2020.
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