- Push-out Score determined
- After less than three years in the position
- Praise, thanks and good wishes for Philbin
- Mike Witynski taking over
- Philbin kept it short and said 53 words
(exechange) — Chesapeake, Virginia, July 20, 2020 — Gary Philbin, chief executive of Dollar Tree, leaves. As announced by Dollar Tree Inc. in a news release and in a regulatory filing published on Monday, July 20, 2020, Gary M. Philbin leaves his post as chief executive officer at the American chain of discount variety stores after less than three years in the role, effective immediately.
Gary Philbin’s duties as CEO will be taken over by Michael A. (Mike) Witynski, most recently Enterprise President of Dollar Tree Inc.
“The smoothest possible leadership transition”
Dollar Tree did not give an explicit reason for Gary Philbin’s departure from the CEO post. Bob Sasser, Executive Chairman, said: “Gary’s leadership as CEO brought our banners together as one company in Chesapeake. Through his efforts, we have a succession plan in place to ensure the smoothest possible leadership transition.”
Precise information regarding Gary Philbin’s future plans was not immediately available.
“Retiring”
Dollar Tree said: “Gary Philbin, 63, who joined Dollar Tree in 2001 and became CEO in 2017, is retiring after a successful retail career of more than 40 years.”
Dollar Tree further said: “Mr. Witynski replaces Gary M. Philbin, who announced his retirement as the Company’s Chief Executive Officer after more than 40 years in retail.”
Share price increase since September 2017
The announcement follows an increase in Dollar Tree Inc.’s share price of 10% since September 2017.
Chaired by Bob Sasser
Dollar Tree Inc. is chaired by Bob Sasser.
Sasser is the Executive Chairman of Dollar Tree Board of Directors. He previously served as the Chief Executive Officer of Dollar Tree from 2004 to September 2017.
In the position of CEO since 2017
Gary Philbin became CEO of the Company in 2017.
To facilitate a smooth transition, Philbin will remain with the Company as an executive and member of the Board of Directors through September 23, 2020.
Philbin is the Chief Executive Officer of Dollar Tree and has served in this role since September 2017. He has more than forty years of progressive retail experience.
Philbin’s bio reads as follows:
- September 2017 to December 2019: President and Chief Executive Officer, Dollar Tree
- December 2016 to September 2017: Enterprise President, Dollar Tree
- July 2015 to December 2016: President and Chief Operating Officer, Family Dollar Stores
- June 2013 to July 2015: President and Chief Operating Officer, Dollar Tree
- March 2007 to June 2013: Chief Operating Officer, Dollar Tree
- December 2001 to March 2007: Senior Vice President of Stores, Dollar Tree
- 1997 to 2001: held several executive level positions, including Chief Executive Officer of Grand Union, prior to the company’s sale
- 1996 to 1997: Executive Vice President of Operations and Merchandising for Cub Foods, a division of SuperValu
- 1993 to 1996: Senior Vice President of Merchandising for Walbaum’s, a division of A&P
- 1973 to 1993: held increasing positions of responsibility in Store Operations and Merchandising, Kroger Company
Philbin graduated with a BS in Accounting from Miami University and received an MBA from Xavier University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Dollar Tree and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 30.2020 ($).