As part of a planned leadership succession, Dollar Tree said that Bob Sasser, the company’s CEO since 2004, will now assume the role of executive chairman of the board. Gary Philbin, enterprise president, has been promoted to president and chief executive officer and has been appointed to the board of directors.
Philbin joined Dollar Tree in 2001 as svp/stores. He was promoted to chief operating officer in 2007, and to president and chief operating officer in 2013. In 2015, Philbin assumed the role of president and chief operating officer of Family Dollar upon its acquisition by Dollar Tree. In 2017, he was promoted to enterprise president with responsibilities for both Dollar Tree and Family Dollar banners.
Sasser stated, “Gary has been a tremendous business partner to me for the past 15 years. We share the same values, have a common vision for Dollar Tree’s future, and are aligned on strategic initiatives and priorities to achieve the company’s business goals. Succession planning has been an important part of Dollar Tree’s organizational efforts and culture for many years. 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. Our board of directors and leadership team have complete confidence in Gary’s ability to lead Dollar Tree through its next phases of growth.”
Sasser joined Dollar Tree in 1999 as chief operating officer. He was promoted to president and chief operating officer in 2001, and to president and CEO in 2004. During his tenure, Dollar Tree has grown to a company with nearly 180,000 employees; more than 14,500 retail stores; and an international supply chain with 24 distribution centers across North America. The company completed six acquisitions during Sasser’s tenure, including the $9.1 billion acquisition of Family Dollar Stores in 2015.