Dive Brief:
- Continuing its C-suite shifts, Dollar Tree Chief Operating Officer Mike Creedon will expand his role to also lead merchandising and supply chain operations for Dollar Tree and Family Dollar, the company announced Friday.
- Creedon “will have full end-to-end accountability for delivering a best-in-class store experience for our customers,” Dollar Tree CEO and Chairman Rick Dreiling said in a statement.
- Dollar Tree Chief Merchandising Officer Rick McNeely, Family Dollar Chief Merchandising Officer Larry Gatta and Chief Supply Chain Officer Mike Kindy will report to Creedon, according to the announcement.
Dive Insight:
The Dollar Tree C-suite shuffle continues. In September 2022, the company hired Creedon as its COO, replacing former COO Thomas O’Boyle. The company that year also lost several other C-suite executives following an activist investor-led revamp of its board, including its chief legal officer, chief strategy officer, chief information officer and chief financial officer.
Last January the company named Dreiling CEO. He previously worked at rival Dollar General, serving as its CEO from 2008 to 2015. A few months later Dollar Tree hired Kindy as its chief supply chain officer, who also came to the company from Dollar General.
“We are fortunate to have an incredibly talented and dedicated leadership team at Dollar Tree and Family Dollar. As we’ve worked together over the last year to build our transformation strategy, Mike has served as a key leader driving our operational path forward,” Dreiling said in a statement. “As I shared with our associates, while Mike and I will continue to work closely together, I am committed to leading this company and I remain fully engaged in all areas of the business.”
While the company reported a 5.4% bump in Q3 net sales to $7.3 billion, it acknowledged that its Family Dollar banner’s performance fell short of expectations. Dreiling said on a call with analysts that the company had begun reviewing its Family Dollar portfolio to “address underperforming stores that are not aligned with our transformative vision for the company.” The retailer has also been working to optimize its supply chain with a number of initiatives including enhancing its distribution and transportation network.
Prior to joining Dollar Tree in 2022, Creedon previously held leadership roles at Advance Auto Parts, and held executive positions at Tyco International and ADT Security.
