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Dollar General Corp. has named Todd J. Vasos to succeed Rick Dreiling as CEO, effective June 3, following Dreiling's retirement.
Vasos, who has served as the company's COO since November 2013, was also elected to the board of directors. The company said that Dreiling will remain on the board for the remainder of his term and will act as senior advisor and chairman through Jan. 29, 2016.
"[Vasos] is a proven leader and the right person to guide Dollar General as it enters this next chapter in the company’s history," said Mike Calbert, Dollar General's lead director. "With Todd’s appointment as CEO and Rick’s continued service, we ensure the continuation of both the leadership and strategy that have made Dollar General a retail powerhouse."
Vasos joined the Goodlettsville, Tenn.-based discounter in 2008 as EVP, division president and chief merchandising officer, before his promotion to COO in 2013. Prior to Dollar Tree, Vasos served in executive positions with Longs Drug Stores Corp., Phar-Mor Food and Drug Inc. and Eckerd Corp.
Said Vasos, "I believe Dollar General has an exciting future ahead and look forward to continuing to work with our talented employees to provide our customers with the everyday low prices that they count on from Dollar General.”
Dollar General Corp. operates 11,000 stores in 43 states.