Dollar Tree announces leadership transition
Dollar Tree Inc. Chairman and CEO Rick Dreiling has stepped down from his position. Michael C. Creedon Jr., chief operating officer, has been appointed interim CEO while Edward (Ned) J. Kelly III, lead independent director, has been elected chairman. The board is conducting a search process to identify a permanent CEO, which will include internal and external candidates.
“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. “I have been honored to serve the customers and associates of Dollar Tree and Family Dollar since 2022. Having worked side-by-side with Mike, I am confident in his strong leadership, deep passion for our business and ability to create value.”
“On behalf of the entire board, I want to thank Rick for his leadership and for his contributions to the company during his tenure," said Kelly. "We support Rick’s focus on his health and wish him all the best. We are fortunate to have a talented leader in Mike Creedon to step in and help drive us forward.”
Paul Hilal, Vice Chair of the Board of Directors, commented, “Mike is well-prepared for this new role. It builds upon his important contributions and the expansion of his responsibilities earlier this year. The entire Board is grateful for Rick’s partnership, and his efforts building up and positioning the team for a seamless transition.”
“The entire Dollar Tree team is grateful to have worked so closely with Rick. Looking forward, we are well-prepared to help both banners reach their fullest potential," Creedon said. “We are excited about our current trajectory and are focused on delivering a successful holiday season. We will continue accelerating growth at Dollar Tree, and we remain focused on identifying the best path forward for Family Dollar.”
Creedon has served as chief operating officer of Dollar Tree since he joined the company in 2022, and added oversight of Dollar Tree and Family Dollar Merchandising and Supply Chain to the scope of his role in February 2024.
