Advertisement

Dollar Tree Promotes New CEO As Sasser Moves To Board

Left: Bob Sasser, Right: Gary Philbin

One of retail’s biggest discount powerhouses has started its succession plan. Bob Sasser, President and CEO of Dollar Tree since 2004, has retired from the position and will assume the role of Executive Chairman of the Board of Directors, effective Sept. 18, 2017.

Gary Philbin, Enterprise President, has been promoted to President and CEO in Sasser’s place and appointed to the Board of Directors.Former Chairman Macon Brock will remain on the board as a Chairman Emeritus, the company said.

“Working with our Board of Directors, I have been planning leadership succession for some time and we are confident this will be a seamless transition, both inside and outside of the company,” said Sasser in a statement. “Our Board of Directors and leadership team have complete confidence in Gary’s ability to lead Dollar Tree through its next phases of growth.”

Advertisement

Sasser joined Dollar Tree in 1999 as Chief Operating Officer, before being promoted to President and Chief Operating Officer in 2001. During his tenure, Dollar Tree’s market capitalization grew from approximately $2.3 billion to $19.8 billion.

The succession comes at a healthy time for the discount retailer. Dollar Tree expects revenues to exceed $22 billion in 2017, with consolidated net sales increasing 5.7% to $5.28 billion in Q2, helped by same-store sales growth of 2.4%. Net income rose to $233.8 million in the quarter, a 37% increase over the same period last year.

Dollar Tree completed six acquisitions during Sasser’s tenure, including the $9.1 billion acquisition of Family Dollar in 2015. Philbin had responsibility for both the Dollar Tree and Family Dollar banners as Enterprise President. Prior to this role, he served as the President and Chief Operating Officer of Family Dollar.

Philbin joined Dollar Tree in 2001 as Senior VP of Stores, was promoted to Chief Operating Officer in 2007, and then was named President and Chief Operating Officer in 2013.

Featured Event

View the Retail Trendcaster Webinar Series on-demand to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Retail Trendcaster Webinar Series
Days
Hours
Minutes
Seconds

Uncovering What’s Next in Retail

On-Demand Limited Video Series

Q1 is a pivotal time for retail, with experts analyzing holiday sales and forecasting trends. View the full lineup of the Retail Trendcaster video series for insights on consumer spending, AI, personalization, social commerce, and more—helping you focus on what truly matters in 2025.

Brought to you by
Retail TouchPoints
Access Now
Retail TouchPoints is a brand of Emerald X LLC. By clicking the button and submitting information, you acknowledge and agree that your information may be shared with corporate affiliates of Emerald X LLC, and other organizations such as event hosts, speakers, sponsors, and partners. Please read our Privacy Policy and our Terms Of Use for more information on our policies.

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: