Dollar General Corporation, US-based retailer, has appointed Todd J. Vasos, the chief operating officer, to the position of chief executive officer, and has elected him to the board, effective June 3, 2015.
Vasos will succeed Rick Dreiling, chairman and CEO, who had previously announced his retirement plans.
Mike Calbert, Dollar General’s lead director said, “On behalf of the entire board of directors, we are excited to have Todd Vasos as our CEO and look forward to working with him in his new role. Todd is a proven leader and the right person to guide Dollar General as it enters this next chapter in the Company’s history. With Todd’s appointment as CEO and Rick’s continued service, we ensure the continuation of both the leadership and strategy that have made Dollar General a retail powerhouse.”
Vasos said, “I am excited and honoured to have the privilege to lead Dollar General. I am grateful to Rick for his guidance as a mentor and friend. Under Rick’s leadership, we have delivered exceptional results. My commitment is to build on that success. I believe Dollar General has an exciting future ahead and look forward to continuing to work with our talented employees to provide our customers with the everyday low prices that they count on from Dollar General.”
Vasos joined Dollar General in December 2008 as executive vice president, division president and chief merchandising officer. He was promoted to chief operating officer in November 2013. Prior to joining Dollar General, Vasos served in executive positions with Longs Drug Stores Corporation for 7 years, including executive vice president and chief operating officer (February 2008 through November 2008) and senior vice president and chief merchandising officer (2001 - 2008), where he was responsible for all pharmacy and front-end marketing, merchandising, procurement, supply chain, advertising, store development, store layout and space allocation, and the operation of three distribution centers. (GK)
Fibre2fashion News Desk - India