Dollar General Corporation recently announced its board of directors has named Wilmington native Todd J. Vasos, Dollar General’s current chief operating officer, to the position of chief executive officer and elected him to the board of directors.
The election of Vasos to Dollar General’s board will bring the total number of directors to nine, according to a news release from the company. Vasos will succeed Rick Dreiling, chairman and CEO, who previously announced his retirement plans. Dreiling will remain on the board for the remainder of his term and will serve as senior advisor and chairman of the board through Jan. 29, 2016.
“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,” said Mike Calbert, Dollar General’s lead director. “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’ appointment is effective June 3.
“I am excited and honored to have the privilege to lead Dollar General,” Vasos said. “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, a Hoggard High School graduate, 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 seven years.