Dollar General CEO Rick Dreiling To Retire On May 30 - Quick Facts

(RTTNews) - Discount retailer Dollar General Corp.'s (DG) Chairman and Chief Executive, Rick Dreiling, has announced his intention to retire as CEO, with effect from May 30, 2015 or upon the naming of a successor. At the discretion of the board, he would serve as chairman during a transition period following the new CEO's appointment.

Dreiling has served as CEO since January 2008 and was appointed as chairman in December 2008. Under his leadership, the firm's annual sales jumped over 80 percent to $17.5 billion in 2013 and store count increased by 38 percent to more than 11,000 stores in 40 states.

His date of retirement and any agreement regarding continued service on the board are likely to be finalized as part of a retirement deal between Dreiling and the company. Meanwhile, the board is conducting an internal and external search for a CEO.