~ Changes Will Increase Focus and
Accountability for Performance Across Dollar Tree and Family Dollar
Segments; Improve Value for Shareholders and Customers ~
Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading
operator of discount variety stores, today announced changes to its
organizational structure and leadership team designed to enhance
the Company’s execution of its strategy and improve operational
performance at its Dollar Tree and Family Dollar business segments.
These changes, effective immediately, follow the recently completed
consolidation of the organization’s two store support centers to
the Company’s corporate office in Chesapeake, Virginia.
- Michael A. Witynski has been promoted to Enterprise President
of Dollar Tree, Inc. and will lead the merchandising, store
operations, and supply chain functions for the Dollar Tree and
Family Dollar business segments. His principal focus will be on
improving enterprise-wide operational efficiency and reducing
distribution costs across both store brands. Mr. Witynski will
continue to report to Gary Philbin, Chief Executive Officer of
Dollar Tree, Inc.
- Richard L. McNeely has been promoted to Chief Merchandising
Officer of Dollar Tree, Inc., and will lead the merchandising,
marketing, and global sourcing functions for the Dollar Tree and
Family Dollar business segments. His primary focus will be on
improving enterprise-wide merchandising margins while improving
value for the customer. Mr. McNeely reports to Mr. Witynski.
- Thomas R. O’Boyle, Jr. has been promoted to Chief Operating
Officer of Dollar Tree, Inc., and will lead the store operations
and real estate functions for the Dollar Tree and Family Dollar
business segments. Among other things, he will be focused on
optimizing real estate, improving customer experience, and
addressing recent issues around inventory shrink. Mr. O’Boyle will
report to Mr. Witynski.
“These and other actions we are taking are designed to increase
enterprise-wide focus and accountability,” stated Gary Philbin,
Chief Executive Officer of Dollar Tree, Inc. “With Mike, Rick and
Tom, we will have our senior-most talent working together across
the platform with more urgency to move the needle on metrics that
will help us deliver greater value for our shareholders and
customers.”
Philbin added, “Mike Witynski has been a key executive in
driving performance across the organization. In particular, Mike
has led the Store Excellence operational initiatives and
merchandising programs to drive sales and margin, and has been
hands-on in managing our tariff mitigation efforts the past
eighteen months. His promotion to Enterprise President will
continue our progression of elevating our customer-facing efforts
in merchandising and operations.”
Mike Witynski, President of Dollar Tree, Inc., stated, “The
reorganization enhances our ability to accelerate the timetable for
implementing initiatives designed to improve margins and reduce
costs for the Dollar Tree and Family Dollar segments.”
Additionally, Duncan Mac Naughton, President of Family Dollar,
is leaving the Company.
“On behalf of our Company, I want to thank Duncan for his
efforts in leading the Family Dollar team,” said Philbin. “We wish
him the best in his future endeavors.”
About Michael A. Witynski
Mike Witynski, age 56, has been President and Chief Operating
Officer of Dollar Tree Stores since June 2017. He previously served
as Chief Operating Officer from July 2015 to June 2017, and as
Senior Vice President of Stores from August 2010 to July 2015.
Prior to joining Dollar Tree, Mr. Witynski was President of Shaw’s
Supermarkets, and held senior leadership roles in Merchandising,
Marketing, Private Brands and Operations at Supervalu, Inc. during
his 29-year career in the grocery industry.
About Richard L. McNeely
Rick McNeely, age 60, has been Chief Merchandising Officer of
Dollar Tree Stores since May 2017. He previously served as Senior
Vice President of Merchandising from April 2008 to May 2017. Prior
to joining Dollar Tree, Mr. McNeely spent the first 28 years of his
retail career in roles increasing responsibility within
merchandising, marketing, global sourcing, and store operations
with several retail companies, including Dollar General, Rose’s
Stores and Fred’s, Inc.
About Thomas R. O’Boyle, Jr.
Tom O’Boyle, age 50, has served as Chief Operating Officer of
Family Dollar since October 2017. He is a broad-based retail
executive with substantial leadership experience, supplemented with
functional experience in operations, merchandising, marketing,
supply chain and logistics. Prior to joining Family Dollar, Mr.
O’Boyle served as Chief Executive Officer of Marsh Supermarkets for
five years and prior to that time served as President of the Food,
Drug and Pharmacy business at Sears/Kmart. Mr. O’Boyle spent the
first 22 years of his career in leadership positions at
Albertsons/American Stores (Jewel-Osco).
About Dollar Tree, Inc.
Dollar Tree, a Fortune 200 Company, operated 15,262 stores
across 48 states and five Canadian provinces as of November 2,
2019. Stores operate under the brands of Dollar Tree, Family
Dollar, and Dollar Tree Canada. To learn more about the Company,
visit www.DollarTree.com.
A WARNING ABOUT FORWARD-LOOKING STATEMENTS
Our press release contains "forward-looking statements" as that
term is used in the Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by the fact that
they address future events, developments or results and do not
relate strictly to historical facts. Any statements contained in
this press release that are not statements of historical fact may
be deemed to be forward-looking statements. Forward-looking
statements include, without limitation, statements preceded by,
followed by or including words such as “believe,” “anticipate,”
“expect,” “intend,” “plan,” “view,” “target” or “estimate,” “may,”
“will,” “should,” “predict,” “possible,” “potential,” “continue,”
“strategy,” and similar expressions. For example, our
forward-looking statements include statements regarding our future
financial and operational performance and consequences of the
management and organizational changes. For a discussion of the
risks, uncertainties and assumptions that could affect our future
events, developments or results, you should carefully review the
"Risk Factors," "Business" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" sections
in our Annual Report on Form 10-K filed March 27, 2019, and other
filings with the Securities and Exchange Commission. We are not
obligated to release publicly any revisions to any forward-looking
statements contained in this press release to reflect events or
circumstances occurring after the date of this release and you
should not expect us to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20191211005247/en/
Dollar Tree, Inc. Randy Guiler, 757-321-5284 Vice President,
Investor Relations www.DollarTree.com DLTR - G
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