Michael A. Witynski, age 54, has been promoted to President and Chief Operating Officer of the Dollar Tree segment.
As President and Chief Operating Officer, Mr. Witynski will be responsible for Merchandising and Marketing and Store Operations for more than 6,200 Dollar Tree bannered stores in the United States. A Dollar Tree veteran, Mr. Witynski has served as Chief Operating Officer since July 2015, and he previously served as Senior Vice President of Stores since joining Dollar Tree in 2010. Prior to joining Dollar Tree, he held executive leadership positions at Shaw's Supermarkets and Supervalu, Inc.Mr. Witynski will continue to report to Gary Philbin, Enterprise President.
"I am very pleased to announce the promotion of Mike Witynski," said Gary Philbin, Enterprise President. "Mike has been a key leader and a major contributor to Dollar Tree's growth and sector-leading profitability since joining the Company in 2010. Through his consistent focus on store execution and delivering results, Mike has developed and led key initiatives to drive market share through new store growth while increasing store and associate productivity."
"Mike is an accomplished executive with more than 36 years of experience in retail," stated Bob Sasser, Chief Executive Officer. "Dollar Tree is a growth company, now larger and more diversified than ever before. We have nearly 14,500 stores with plans to open 650 new stores this year. With Mike in this leadership role as President and Chief Operating Officer of Dollar Tree and Duncan Mac Naughton leading Family Dollar, we are confident we have the right executives in place to lead us through the next phases of growth."
Family Dollar is an American variety store chain in the United States. With 8,100 locations, it is the second largest retailer of its type in the United States. Family Dollar is headquartered in Matthews, a suburb of Charlotte, North Carolina, where it employs 1,400 people.[1]
In June 2014, activist investor and major shareholder[2] Carl Icahn demanded that Family Dollar be immediately put up for sale.[3]
On July 28, 2014, Dollar Tree announced that it would purchase Family Dollar for $8.5 billion.[4][5] The sale delivered a windfall to the company's biggest shareholder Carl Icahn, who acquired his 9.4 percent stake in June 2014.[6] On January 22, 2015, Family Dollar shareholders approved the Dollar Tree bid.[7]
