Dollar General CEO Todd Vasos To Retire; COO Jeffery Owen Named Successor

(RTTNews) - Dollar General Corp. (DG) announced Tuesday that Chief Executive Officer Todd Vasos has decided to retire from his position, effective November 1, 2022. The Company's Board of Directors also approved the promotion of Jeffery Owen, its Chief Operating Officer since 2019, to succeed Vasos as CEO effective immediately following Vasos's retirement from the CEO role.

To assist in the transition of leadership, Vasos is expected to serve in a senior advisory position beginning November 1, 2022, and continuing through April 1, 2023, at which time Vasos will retire.

Vasos is also expected to enter into a two-year consulting agreement and continue to serve as a member of the Company's Board of Directors following his retirement from the Company.

Vasos has served as Chief Executive Officer and as a member of the Company's Board of Directors since June 2015. He joined Dollar General in 2008 as Executive Vice President, Division President and Chief Merchandising Officer and served as Chief Operating Officer from 2013 until being named CEO.

Meanwhile, Owen has served as Chief Operating Officer since August 2019 and previously held the roles of Executive Vice President, Store Operations from 2015-2019 and Senior Vice President, Store Operations from 2011-2014.

Prior to August 2011, Owen served as a Vice President, Division Manager; Retail Division Manager; Senior Director, Operations Process Improvement; and Store Manager, among other roles. He began his employment at Dollar General in 1992 as a store manager trainee in a Nashville, Tennessee store.

Owen is expected to be elected to serve as a member of Dollar General's Board of Directors upon the effectiveness of his promotion to CEO. He has also served as a director of Kirkland's Inc. since March 2015.