Dollar Tree CEO Mike Witynski will step down and leave the retailer’s board of directors, with Executive Chairman Rick Dreiling expanding his role to assume the CEO position, effective Jan. 29, 2023. Witynski has held leadership positions at Dollar Tree since starting there in 2010 and was named CEO in 2020.
Dreiling had served as CEO of rival retailer Dollar General from 2008 to 2015. He became the Dollar Tree board’s Executive Chairman in March 2022 as part of a settlement with activist investor Mantle Ridge LP.
“The opportunity to work with the talented and dedicated team at Dollar Tree has been the most rewarding of my career,” said Witynski in a statement. “During this especially dynamic period, we made the historic and consequential move to ‘break the dollar,’ and also rose to the historic opportunity to retool the company’s leadership ranks to face the challenges ahead with fresh eyes.”
“We greatly appreciate Mick’s contribution over his career with Dollar Tree, which included the acquisition and integration of Family Dollar, navigating COVID and contributing to the company’s current transformation strategy,” said Dreiling in a statement. “Dollar Tree will continue to thrive, grow and win in the marketplace in this next chapter.”