Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2023, the Board of Directors of Dollar Tree, Inc. (the "Company")
appointed Richard W. Dreiling, age 69, as Chief Executive Officer of the
Company, effective January 29, 2023. Mr. Dreiling, who has served as Executive
Chairman of the Board of Directors since March 2022, will continue to serve in
that capacity in addition to serving as Chief Executive Officer. Mr. Dreiling
succeeds Michael A. Witynski, whose separation from the Company and resignation
as a director is effective January 28, 2023.
Mr. Dreiling previously served as Chief Executive Officer of Dollar General
Corporation, the nation's largest small-box discount retailer, from January 2008
to June 2015. Mr. Dreiling served as Chairman of Dollar General Corporation from
December 2008 until January 2016 and as Senior Advisor from June 2015 until
January 2016. Before joining Dollar General, Mr. Dreiling served as Chief
Executive Officer, President and a director of Duane Reade Holdings, Inc. and
Duane Reade Inc., the largest drugstore chain in New York City, from November
2005 until January 2008, and as Chairman of Duane Reade from March 2005 until
January 2008. Prior to that, Mr. Dreiling, beginning in July 2003, served as
Executive Vice President-Chief Operating Officer of Longs Drug Stores
Corporation, an operator of a chain of retail drug stores on the West Coast and
Hawaii. From 2000 to 2003, Mr. Dreiling served as Executive Vice
President-Marketing, Manufacturing and Distribution at Safeway, Inc., a food and
drug retailer. Prior to that, Mr. Dreiling served from 1998 to 2000 as President
of Vons, a southern California food and drug division of Safeway. Mr. Dreiling
currently is a director at Kellogg Company, where he serves on the Audit
Committee and the Compensation and Talent Management Committee, and at Lowe's
Companies, Inc., where he is the Lead Independent Director and serves on the
Nominating and Governance Committee.
The Company will file an amendment to this Form 8-K disclosing the final
compensation arrangements for Mr. Dreiling's service as Executive Chairman and
Chief Executive Officer once available.
There are no transactions between Mr. Dreiling or any member of his immediate
family and the Company, or any of its subsidiaries, that would be reportable as
a related party transaction under the rules of the Securities and Exchange
Commission. In addition, there are no family relationships between Mr. Dreiling
and any current director or executive officer of the Company.
In connection with his separation from the Company, Mr. Witynski will be
eligible to receive the separation payments provided by his executive agreement
with the Company and an annual cash bonus for fiscal year 2022.
Item 7.01. Regulation FD Disclosure.
On January 24, 2023, the Company issued a press release announcing the
appointment of Richard W. Dreiling as Chief Executive Officer of the Company. A
copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is
incorporated herein by reference.
The information contained in this item, including that incorporated by
reference, is being furnished to the Securities and Exchange Commission. Such
information shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities of that
Section. The information shall not be deemed incorporated by reference into any
registration statement or other document filed pursuant to the Securities Act of
1933, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release, dated January 24, 2023, issued by Dollar Tree, Inc.
104 The cover page from this Current Report on Form 8-K, formatted in Inline
XBRL.
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