DLTR Dollar Tree Inc

   By Austen Hufford 
 

Dollar Tree Inc. (DLTR) said Friday that Family Dollar Stores Inc. CEO Howard Levine would leave the company, six months after the acquisition of Family Dollar was completed.

Mr. Levine will remain on the Dollar Tree board. Leon Levine, Mr. Levine's father, opened the first Family Dollar store in 1959.

Last January, Dollar Tree won Family Dollar shareholders approval for a $8.7 billion acquisition of the company, beating out rival Dollar General Inc.'s (DG) higher but riskier offer.

As the deal was completed in July, Dollar Tree said its Chief Operating Officer Gary Philbin would become president of Family Dollar, reporting directly to Dollar Tree Chief Executive Bob Sasser. Mr. Philbin will continue to lead Family Dollar.

When the proposed deal was first announced in July 2014, Dollar Tree said Mr. Levine would remain with the company.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

January 08, 2016 08:55 ET (13:55 GMT)

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