Dollar Tree names Michael C. Creedon as permanent CEO
Dollar Tree has removed the interim tag.
The discounter has appointed interim CEO Michael C. Creedon, Jr. as permanent chief executive officer. He was appointed to the post on an interim basis in November, following the abrupt departure of Rick Dreiling, who stepped down for health reasons.
Creedon joined Dollar Tree in 2022 as COO and over the past two years has taken on increasing levels of responsibility. Prior to Dollar Tree, he spent nearly a decade at Advance Auto Parts where he held several leadership positions, most recently as executive VP and president of its U.S. stores. Creedon also served in executive positions with Tyco International and ADT Security.
“Following a search, we are unanimous as a board in our belief that Mike is the right leader for Dollar Tree,” said Edward (Ned) J. Kelly III, chairman of Dollar Tree's board. “His deep understanding of the business, coupled with his strategic vision and collaborative leadership, has earned the trust and respect of the entire organization. We have full confidence in Mike’s ability to guide the enterprise to growth and success.”
Creedon steps into the role on a permanent basis as Dollar Tree is working to improve its business. In November, the chain reaffirmed its its third-quarter outlook, saying that same-store sales “tracked well through the quarter.” It also said it is making “good progress’ on its formal review of strategic alternatives for the Family Dollar business segment, which could include a potential sale or spin-off.
“It’s a privilege to lead Dollar Tree at such a pivotal time,” said Creedon. “My focus will continue to be on delivering long-term value to our associates, customers, and shareholders as a company that is rooted in strong values and operational excellence. I am thrilled and humbled to step into this leadership role as we remain focused on unlocking the enterprise’s full potential."
Dollar Tree operated 16,590 stores across 48 states and five Canadian provinces as of Nov. 2, 2024. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada.
