Dollar General has appointed former CEO and current board member Todd Vasos, CEO.
Vasos, who served as Dollar General’s CEO from June 2015 to November 2022, has agreed to return to lead the company for the foreseeable future. He will remain a member of the board, a role he has held since 2015. Vasos succeeds Jeff Owen, whose separation from the company and resignation from its board was effective Thursday.
“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 Dollar General’s board, in a statement. “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.”
During Vasos’ seven years as CEO, he led the company through a period of transformation, accelerated growth and innovation, according to the company. Under his leadership, 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 percent, and more than doubled its market capitalization to approximately $58 billion.
“I am honored to be rejoining Dollar General at this pivotal time for our Company,” said Vasos. “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.”
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