Former Dollar General CEO Todd Vasos Makes His Return

Managing Editor

10/16/2023

Dollar General is flipping back to its previous CEO, Todd Vasos, after Jeff Owen was asked to resign from the role late last week.

Vasos was initially in the CEO role from June 2015 to November 2022 before moving to an advisory role and then retiring. He will be returning “for the foreseeable future.”

During his first run as CEO, Vasos is attributed with leading the company through a period of significant growth and innovation, expanding the store base by 7,800 locations, adding about 60,000 new jobs, increasing annual sales revenue by more than 80%, and more than doubling the market capitalization to about $58 billion.

Vasos was named a Most Admired CEO by Nashville Business Journal in 2021.

He joined Dollar General in 2008 as EVP, division president, and chief merchandising officer, before being promoted to chief operating officer in 2013. Prior to Dollar General, Vasos held leadership positions across several organizations, including Longs Drug Stores Corporation, Phar-Mor Food and Drug Inc., and Eckerd Corporation.

“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.”

Owen was dismissed from the CEO role after less than a year, with Michael Calbert, chairman of DG’s board of directors, stating the company needed to “restore stability and confidence in the company moving forward.”

Calbert added that Vasos is the “right leader to refocus the company’s strategic direction and priorities” to provide that stability.

“Since Todd’s retirement in April, he has remained active as a member of our board and is acutely aware of the challenges facing our business and the industry more broadly,” said Calbert. “We are confident Todd’s deep expertise and familiarity with Dollar General, as well as the strong relationships and respect he has maintained with our executive team, will support a seamless transition.”

Vasos will remain a member of the board as he re-enters the CEO position.