Dollar Tree Inc. said Monday that Gary Philbin was promoted to chief executive, effective today. He has been enterprise president, with responsibilities for both Family Dollar and Dollar Tree since January 2017. In July 2015, he became president and chief operating officer of Family Dollar, upon acquisition of that company. He has been with Dollar Tree since 2001. He succeeds Bob Sasser who assumes the role of executive chairman of the board. Sasser has served as CEO since 2004. Dollar Tree says that, during his tenure, the company has grown to 180,000 employees, more than 14,500 stores and 24 distribution centers across North America from 18,000 employees, fewer than 1,200 stores and four distribution centers. Dollar Tree shares are unchanged in premarket trading, and up 8.2% for the year so far. The S&P 500 index is up 11.7% for 2017 to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News