Dollar General Corp. appointed former chief executive and current board member Todd Vasos CEO, effective today, succeeding Jeff Owen, who left the company and resigned from the board of directors.
After the company posted disappointing second-quarter results, Vasos takes up the chief executive role that he filled from June 2015 to November 2022 before aiding Dollar General as a senior advisor through April of this year. Under his leadership, the company pointed out, Dollar General expanded its store base by approximately 7,000 stores, added nearly 60,000 net new jobs, increased annual sales revenue by more than 80% and more than doubled its market capitalization to $58 billion.
As Dollar General announced the executive transition, board chairman Michael Calbert said, “Dollar General has operated from a position of strength for nearly 85 years, and the board believes Todd is the right leader to refocus the company’s strategic direction and priorities to stabilize the business. Since Todd’s retirement, 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.”
