Press release
Dollar Tree, Inc. Announces Retirement of Executive Chairman Bob Sasser
CHESAPEAKE, Va.--(BUSINESS WIRE)-- Dollar Tree, Inc. (NASDAQ: DLTR), today announced that Bob Sasser, 70, intends to retire from his role as Executive
About this update from Dollar Tree, Inc.
[{"type":"text","content":" CHESAPEAKE, Va.--(BUSINESS WIRE)--\nDollar Tree, Inc. (NASDAQ: DLTR), today announced that Bob Sasser, 70, intends to retire from his role as Executive Chairman of Dollar Tree’s Board of Directors prior to the Company’s 2022 Annual Meeting of Shareholders. In recognition of his many years of outstanding service to the Company, the Board has unanimously determined to bestow Bob Sasser with the honorary title of Chairman Emeritus upon his retirement.\n\nMr. Sasser’s retirement follows a tenure with the Company of more than 20 years, during which he was instrumental in growing Dollar Tree into a premier leader in the value retail sector. Mr. Sasser joined Dollar Tree in 1999 as Chief Operating Officer, served as President and Chief Operating Officer from 2001 to 2003, and then as Chief Executive Officer from 2003 to 2017. He has served as Executive Chairman of the Board of Directors for the past five years, overseeing numerous transformational changes to the business.\n\nDuring Bob Sasser's tenure, Dollar Tree has grown from a company with 18,000 employees; fewer than 1,200 stores in 33 states; four distribution centers; and less than $1 billion in annual sales to a Fortune 111 company with more than 200,000 associates; 16,000-plus retail stores; an international supply chain with 26 distribution centers across North America; and annual sales exceeding $25 billion. Dollar Tree's market capitalization has grown from approximately $2.3 billion to $30.8 billion during this time.\n\n“Bob Sasser has left an indelible mark on Dollar Tree as a result of his outstanding leadership skills, business acumen and commitment to excellence,” said Michael Witynski, President and Chief Executive Officer. “He has been the engineer of the Company’s success and growth over the last 23 years. During his thirteen-year tenure as CEO, shareholder value increased 733%, a testament to Bob’s leadership. He successfully drove growth and improved efficiencies throughout all levels of the business, while providing the strong leadership that enabled Dollar Tree to withstand pressures from market downturns and related industry headwinds. It has been a privilege to work closely with Bob over many years, and while we will certainly miss his leadership and counsel, Dollar Tree is a stronger company because of him.”\n\n“I am honored to have had the opportunity to le...