Dollar Tree Names Bob Sasser As Executive Chairman; Gary Philbin Named CEO

(RTTNews) - Discount store operator Dollar Tree, Inc. (DLTR) said that as part of its planned leadership succession, Bob Sasser, the company's Chief Executive Officer since 2004, will assume the role of Executive Chairman of the Board effective September 18, 2017.

Sasser, age 65, joined Dollar Tree in 1999 as Chief Operating Officer. He was promoted to President and COO in 2001, and to President and CEO in 2004.

Effective September 18, 2017, Gary Philbin, Enterprise President, was promoted to President and CEO of Dollar Tree, and appointed to the Board of Directors.

Philbin, age 60, joined Dollar Tree in 2001 as Senior Vice President of Stores. He was promoted to COO in 2007, and to President and COO in 2013.

In July 2015, Philbin assumed the role of President and COO of Family Dollar upon its acquisition by Dollar Tree. In January 2017, he was promoted to Enterprise President with responsibilities for both Dollar Tree and Family Dollar banners.

The company added that Macon Brock will remain on Dollar Tree's board of directors. He has been named Chairman Emeritus.