Dollar Tree chairman and CEO Rick Dreiling has stepped down from his role amid health concerns.
“With my health presenting some new challenges over the past two months, the time is right for me to step away and focus on myself and my family,” said Dreiling.
The discount store chain has appointed its COO Michael C Creedon Jr as interim CEO and lead independent director Edward J Kelly III as elected chairman.
The board has launched a search process for a new permanent CEO, which will include both internal and external candidates.
Meanwhile, Dollar Tree said that its formal review of strategic alternatives for the Family Dollar business segment is progressing. The alternatives may include a potential sale, spin-off, or other disposition of the business.
