Dollar General Corporation Announces CEO Transition Plan; Jeffery Owen, Todd Vasos, and Michael Calbert Comment
GOODLETTSVILLE, TN - Dollar General’s (DG) recent streak of leadership promotions did not mark the end of the retailer’s executive transition, as the company has now announced Todd Vasos’s decision to retire as Chief Executive Officer. Effective November 1, the tenured exec will step down and Jeffery Owen, current Chief Operating Officer, will take over the role.
“I am deeply honored to have the opportunity to build on Todd’s incredible tenure as CEO. I am equally humbled to lead Dollar General as we continue to serve our customers with value and convenience, support the communities we proudly call home, and provide our employees with career and growth opportunities,” commented Owen. “For the past three decades, I’ve grown and developed within our company, and I couldn’t be prouder to serve as CEO alongside an amazing team in our stores, distribution centers, private fleet, and Store Support Center.”
Owen currently serves as Dollar General’s Chief Operating Officer, a position he has held since August 2019, with responsibility for Store Operations, Merchandising, and Supply Chain, according to a press release. Upon his promotion to CEO, Owen is expected to be elected to serve as a member of Dollar General’s Board of Directors.
To assist with this leadership transition, Vasos is expected to serve in a senior advisory position beginning November 1, 2022, and continuing through April 1, 2023. He is also expected to enter a two-year consulting agreement and continue serving as a member of the company’s Board of Directors following his retirement.
“Serving my fellow employees, our customers, and our communities as CEO has been the greatest privilege of my career,” said Vasos. “Together, we ushered in an era of unrivaled growth while staying true to our mission of Serving Others. Today, we are so much more than a dollar store, proudly serving millions of Americans as their neighborhood general store. Having worked with Jeff for many years, I am confident in his leadership abilities and capability to lead Dollar General into our next chapter of growth and service.”
Michael Calbert, Chairman of Dollar General’s Board of Directors, also commented on Vasos’ departure.
“On behalf of the Board of Directors, I want to thank Todd for his many years of service to Dollar General, his outstanding leadership, commitment to our values, and dedication to the Company, its employees, customers, communities, and shareholders…DG is a better company today as a result of Todd’s leadership,” said Calbert. “The Board is looking forward to continuing this strong trajectory under the leadership of Jeff Owen, who is a strategic thinker, strong collaborator, and proven leader known for his motivational leadership and deep knowledge of DG.”
To read more about this recent appointment, click here.
ANUK sends a huge congratulations to both of these retail leaders as they take on new positions in their career.