Vasos Returns As Dollar General CEO

A familiar face is back in the top spot at Dollar General.

Todd Vasos has been named chief executive officer of the dollar store chain and will lead the company for “the foreseeable future.” He served as Dollar General CEO from June 2015 to November 2022. He succeeds Jeff Owen, whose resignation from the company was effective October 12.

“The Board has tremendous respect for Jeff and greatly appreciates his many contributions to the company, especially during his long tenure leading our retail operations,” said Michael Calbert, chairman of Dollar General’s Board of Directors. “However, at this time the board has determined that a change in leadership is necessary to restore stability and confidence in the Company moving forward.”

RELATED: Dollar General Opens Nebraska 'Dual' Distribution Center

During Vasos’ seven years as CEO, he led the company through a period of significant transformation, accelerated growth and innovation. Under his leadership, Dollar General expanded its store base by approximately 7,000 stores, added nearly 60,000 net new jobs, increased annual sales revenue by more than 80%, and more than doubled its market capitalization to approximately $58 billion. 

“I am honored to be rejoining Dollar General at this pivotal time for our Company,” said Vasos. “I look forward to getting back to work with the broader team as we strive to return to a position of operational excellence for our employees and customers and deliver sustainable long-term growth and value creation for our shareholders.”

Vasos joined Dollar General in 2008 as executive vice president, division president and chief merchandising officer and was promoted to chief operating officer in 2013. He was named CEO and joined the Company’s Board in June 2015.

Additionally, the retailer also updated financial guidance for the remainder of its fiscal year. The company now expects net sales growth in the range of 1.5% to 2.5%, compared to its previous expectation of 1.3% to 3.3%; both of which include an anticipated negative impact of approximately two percentage points due to lapping the fiscal 2022 53rd week. Same-store sales growth in the range of a decline of approximately 1.0% to 0.0% is expected, compared to its previous expectation of a decline of approximately 1.0% to growth of 1.0%.