Mills Fleet Farm names new CEO


Mills Fleet Farm has ended its hunt for a CEO.

The Midwest retailer announced the appointment of Derick Prelle as president and CEO succeeding Wayne Sales, who has been serving as interim chief since January 2017. Sales was given the position following the departure of Duncan MacNaugton, who left to become president and COO of Family Dollar.

Prelle joins Mills Fleet Farm from KKR Capstone, which acquired the formerly family-owned Mills Fleet in January 2016. As managing partner – Americas, Prelle ran KKR’s retail and consumer operations group over the past decade. He has worked closely with Mills Fleet in his role working with KKR’s portfolio companies.

Prelle also has significant experience working in the retail sector from his role as an associate partner in McKinsey & Company’s retail and consumer practice. In these two capacities, he has led significant transformation efforts at companies, including Dollar General and National Vision.

“Every day since I first started working with Mills Fleet Farm over a year ago, I’ve found myself continuing to be more and more excited to be a part of the Mills Fleet Farm story – one of an authentic brand, an incredibly differentiated concept, an exceptional leadership team and customer loyalty that spans generations,” said Prelle.

Effective today, Sales will return to Mills Fleet Farm’s board and serve as a special advisor to the company’s management team.

Founded in 1955, Mills Fleet is a value-based retailer of lifestyle merchandise serving suburban and farm consumers. The retailer also offers a number of services such as convenience stores, gas stations, car wash and auto service. The company operates 36 stores located throughout Wisconsin, Minnesota, Iowa and North Dakota.