Dollar General completes leadership transition
GOODLETTSVILLE, Tenn. — After relinquishing the CEO role last year, Dollar General chairman Rick Dreiling will complete a previously announced leadership transition on Jan. 29 when he steps down as chairman of the 12,400 store chain.
The company announced that Dreiling will step down as a member and the chairman of the board of directors of Dollar General effective Jan. 29 and that it has named Michael M. “Mike” Calbert as non-executive chairman effective Jan. 30. Calbert has been a member of the board of directors of Dollar General for over eight years. He served as chairman of the board of Dollar General from July 2007 to December 2008 and has been lead director since March 2014. Dreiling’s resignation from the board of directors coincides with his previously announced retirement as senior adviser.
“On behalf of the board of directors, we thank Rick for his leadership and wish him the best in retirement. Looking ahead, I am excited to continue to work with Dollar General, its chief executive officer Todd Vasos and his highly experienced senior leadership team,” said Calbert. “I believe Dollar General is well-positioned for future growth and to capitalize on opportunities to create long-term shareholder value.”
Calbert has nearly 30 years of retail experience. He joined KKR & Co. L.P. in January 2000 and led the Retail industry team within KKR’s Private Equity platform prior to his retirement in January 2014. Calbert joined Randall's Food Markets beginning in 1994 and served as the Chief Financial Officer from 1997 until it was sold in September 1999. Calbert also previously worked as a certified public accountant and consultant, where his primary focus was the retail and consumer industry. Calbert formerly served on the board of directors for Academy, Ltd., Pets at Home Group Plc., Shoppers Drug Mart Corporation, Toys“R”Us, Inc. and US Foods, Inc.
Dollar General operates 12,396 stores in 43 states as of Oct. 30.