Dollar Tree Announces Departure of Howard R. Levine, CEO of Family Dollar
January 08 2016 - 7:30AM
Business Wire
~ Gary Philbin Continues to Lead Family
Dollar as President & Chief Operating Officer, Reporting to Bob
Sasser, Chief Executive Officer of Dollar Tree ~
Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading
operator of discount variety stores, today announced that Howard R.
Levine has completed his role in the integration of Family Dollar
and Dollar Tree, and is stepping down as an officer of the Company
effective January 15, 2016.
On July 6, 2015, Dollar Tree completed its acquisition of more
than 8,200 Family Dollar stores across 46 states. The Company had
previously announced that Mr. Levine would remain with the Company
for a period of time to assist with the integration, reporting to,
and supporting, Dollar Tree’s Chief Executive Officer, Bob Sasser.
Gary Philbin, who was named Family Dollar’s President and Chief
Operating Officer in July 2015, will continue leading Family Dollar
and will continue reporting to Mr. Sasser.
Bob Sasser, Chief Executive Officer, stated, “It was very
important to me for Howard to remain with our company and to
contribute to the combination of our two large organizations. 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. Howard has completed everything
I have asked of him during this process, and has proven to be a
valuable resource to both Gary Philbin and me.”
Howard Levine, Family Dollar’s Chief Executive Officer, stated,
“It has been an honor to serve Family Dollar over the past 25
years. I would like to share my gratitude to many thousands of
current and former Family Dollar team members that have helped
build Family Dollar into the business it is today, delivering
terrific values to millions of customers on a daily basis. I am
appreciative for the opportunity to assist Bob and Gary through the
integration of our companies. I have been impressed by Dollar
Tree’s commitment to discipline and execution in running a value
retail business. I am confident that both the Family Dollar and
Dollar Tree banners are well-positioned for many years of growth
and success.”
Mr. Sasser continued, “I have long-admired the Family Dollar
brand. Since Leon Levine opened its first store in Charlotte in
1959, the Company had grown to more than 8,200 stores in 46 states.
Howard and his father had a great vision and for more than five
decades were committed to creating jobs and delivering values to
Family Dollar’s customers and their shareholders. I would like to
wish Howard and his family the best for many years to come.”
About Dollar Tree, Inc.
Dollar Tree, a Fortune 500 Company, now operates more than
14,038 stores across 48 states and five Canadian provinces. Stores
currently operate under the brands of Dollar Tree, Family Dollar,
Dollar Tree Canada, and Deals. To learn more about the Company,
visit www.DollarTree.com.
A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release
contains "forward-looking statements" as that term is used in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements address future events, developments or results and
typically use words such as believe, anticipate, expect, intend,
plan, forecast, or estimate. For a discussion of the risks,
uncertainties and assumptions that could affect our future events,
developments or results, you should carefully review the “Risk
Factors,” "Business," “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections in our
Annual Report on Form 10-K filed March 13, 2015, the “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” and other sections in our Quarterly Report on Form 10-Q
filed November 24, 2015 and other filings with the Securities and
Exchange Commission. We are not obligated to release publicly any
revisions to any forward-looking statements contained in this press
release to reflect events or circumstances occurring after the date
of this report and you should not expect us to do so.
DLTR-G
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version on businesswire.com: http://www.businesswire.com/news/home/20160108005092/en/
Dollar Tree, Inc.Randy Guiler, 757-321-5284Vice President,
Investor Relationswww.DollarTree.com
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