Chesapeake, Va. – Dollar Tree Inc.’s new CEO joined the company 26 months ago and has been serving as interim CEO since last month.
This morning, the extreme value retailer announced that Micheal Creedon Jr. has been appointed permanent CEO. He oversees an operation that spans 16,590 stores across 48 states and five Canadian provinces under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada.
“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 the 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.”
Creedon joined Dollar Tree in October 2022 as chief operating officer and over the past two years has taken on increasing levels of responsibility. Prior to Dollar Tree, Creedon spent nearly a decade at Advance Auto Parts where he held several leadership positions, most recently as EVP and President of its U.S. stores. He also served in executive positions with Tyco International and ADT Security.
As CEO, he succeeds Rick Dreiling, who stepped down on Nov. 2 citing health issues.
“It’s a privilege to lead Dollar Tree at such a pivotal time,” said Creedon. “I am thrilled and humbled to step into this leadership role as we remain focused on unlocking the enterprise’s full potential.”
The future of the Family Dollar business is among the issues Creedon takes on. Dollar Tree Inc. has been conducting a strategic review for months and has acknowledged that the chain could be sold or spun off.
“The company and its advisors continue to make good progress, and the process is moving forward as planned,” it stated last month.