- Push-out Score determined
- After around seven years in the position
- Accolades, praise and thanks for Vasos
- Jeff Owen taking over
- Vasos said 85 words
(exechange) — Goodlettsville, Tennessee, July 12, 2022 — Todd Vasos, chief executive of Dollar General, leaves his position. As announced by Dollar General Corp. in a news release and in a regulatory filing published on Tuesday, July 12, 2022, Todd J. Vasos leaves his post as chief executive officer at the discount retailer, after around seven years in the role, effective November 1, 2022.
Vasos leaves the company effective April 1, 2023.
Todd Vasos’s duties as CEO will be taken over by Jeffery (Jeff) Owen, currently Chief Operating Officer at Dollar General Corp.
No reason given
In the announcement, Dollar General did not explicitly explain the reason for the move.
Precise information regarding Todd Vasos’s future plans was not immediately available.
Dollar General said: “Dollar General Corporation (NYSE: DG) today announced Todd Vasos’s decision to retire from his position as Chief Executive Officer (CEO) effective November 1, 2022.”
Dollar General further said: “On July 6, 2022, Todd Vasos informed Dollar General Corporation (the “Company”) of his decision to step down from his position as Chief Executive Officer of the Company effective November 1, 2022.”
Share price increase since July 2017
The announcement follows an increase in Dollar General Corp.’s share price of 253% since July 2017.
In the position of CEO since 2015
Todd Vasos became CEO of the Company in 2015.
To assist in the transition of leadership, Vasos is expected to serve in a senior advisory position beginning November 1, 2022, and continuing through April 1, 2023, at which time Vasos will retire from employment with the Company.
Vasos is expected to enter into a two-year consulting agreement and continue to serve as a member of the Company’s Board of Directors following his retirement from the Company.
Vasos has served as Chief Executive Officer and a member of the Company’s Board since June 2015.
He joined Dollar General in December 2008 as Executive Vice President, Division President and Chief Merchandising Officer and was promoted to Chief Operating Officer in November 2013.
Prior to joining Dollar General, Vasos served in executive positions with Longs Drug Stores Corporation for seven years, including Executive Vice President and Chief Operating Officer (February 2008 to November 2008) and Senior Vice President and Chief Merchandising Officer (2001 to 2008), where he was responsible for all pharmacy and front-end marketing, merchandising, procurement, supply chain, advertising, store development, store layout and space allocation, and the operation of three distribution centers.
He also previously served in leadership positions at Phar-Mor Food and Drug Inc. and Eckerd Corporation.
Vasos has served as a director of KeyCorp since July 2020.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Todd Vasos’s move on a scale of 0 to 10.
exechange reached out to Dollar General and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 29.2022 ($).