Dollar Tree Adds to Its C-Suite
Dollar Tree, Inc. has added to its executive leadership team with the hire of Jonathan Leiken as EVP, chief legal officer and secretary. Leiken most recently served in a similar role at global technology company Diebold Nixdorf, Inc.
“I am pleased to welcome Jon to the Dollar Tree executive leadership team,” said Rick Dreiling, chairman and CEO of Dollar Tree. “Jon is a seasoned attorney and business leader with proven expertise across a number of industries, including the retail and financial sectors. His credentials ranging from corporate governance and law, to regulatory compliance and commercial litigation make him uniquely suited for this role.”
[Read more: "Dollar Tree Hires Former Dollar General Exec to Improve Supply Chain Performance"]
Prior to his time at Diebold Nixdorf, Leiken was a partner at global law firm Jones Day and an assistant U.S. attorney in the United States Department of Justice, U.S. Attorney’s Office for the Southern District of New York (Criminal Division). He holds a J.D. from the University of Pennsylvania Carey Law School and earned a bachelor’s degree in political science from Brandeis University. He is also the president of The Legal Aid Society of Cleveland and teaches as an adjunct professor of law at The Ohio State University.
“I’m delighted to join Dollar Tree’s talented group of senior executives and legal professionals, and look forward to serving the company and its stakeholders as the organization continues on its business transformation journey,” shared Leiken.
Meanwhile, Dollar Tree is finding its footing after reporting a less-than-stellar quarter ending July 29. The retailer reported a year-over-year (YoY) decline in earnings and also revealed a 43.1% YoY drop in operating income for the quarter, with operating income coming in at $287.7 million during that time. A decline in gross margins follows the prior year’s margin benefit stemming from the 2022 move to a $1.25 price point at Dollar Tree.
Last week, the company also agreed to settle for $1.35 million with the U.S. Labor Department’s Occupational Safety and Health Administration (OSHA). In addition to paying the penalties, Dollar Tree will conduct a comprehensive assessment of the root causes behind the violations found at multiple stores. The company will also maintain a 24-hour hotline to receive safety complaints and establish a tracking system to ensure that complaints are addressed and will meet quarterly with OSHA to discuss progress.
Chesapeake, Va.-based Dollar Tree operated 16,419 stores across 48 states and five Canadian provinces as of April 29. The company is No. 21 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.
