Family Dollar CEO Howard Levine announced that he is stepping down from his position effective Jan. 15. This news comes six months after the company’s acquisition by longtime rival Dollar Tree, but is no surprise to the company as Levine had vowed to stay with Family Dollar “for a period of time to assist with the integration,” according to USA Today. He will remain on the Dollar Tree Board of Directors; Family Dollar President and COO Gary Philbin will take his place.
Since being appointed CEO of the discount chain in 1998, Levine, who is also the son of Founder Leon Levine, expanded the company to 8,200 stores in 46 states.
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“It was very important to me for Howard to remain with our company and to contribute to the combination of our two large organizations,” said Bob Sasser, CEO of Dollar Tree in a statement. “He has been an integral leader at Family Dollar for more than two decades, and has accumulated a tremendous amount of knowledge and experience. I would like to commend Howard for his many years of service and leadership at Family Dollar, and to thank him for his partnership during our integration.”
