Dollar Tree Appoints 3 Board Members
Dollar Tree Inc. has appointed William W. Douglas III and Timothy Johnson to the company’s board of directors, effective immediately. In addition, CEO Michael C. Creedon Jr. has joined the board.
Douglas is a 30-year veteran of the Coca-Cola system, with extensive domestic and international retail experience. At Coca-Cola, he held progressive leadership roles in IT, finance and supply chain. Following his retirement in 2016, Douglas was appointed to the board of Coca-Cola Hellenic, where he also serves as chair of the audit committee. Douglas serves on the boards of SiteOne Landscape Supply, North Highland ESOP and Monster Beverages Corp.
Johnson has more than 30 years of retail leadership experience. Since 2021, he has been CFO and chief administrative officer for Victoria’s Secret & Co, leading up to his recently revealed retirement, planned for June 2025. He was also the CFO and chief administrative officer for Big Lots. Johnson currently serves on the boards of Brinker International, LogicSource Inc. and Nationwide Children’s Hospital, and previously served on the board of The Aaron’s Co.
“Bill and Tim are both esteemed financial leaders with a strong understanding of today’s competitive retail landscape,” said Creedon. “We look forward to their many contributions and support in driving long-term value for our associates, customers and shareholders.”
Creedon was appointed CEO of Dollar Tree in December 2024. He joined the company in 2022 as COO, a role he held until his appointment to the position of interim CEO in November 2024 after then CEO Rick Dreiling stepped down due to health issues. Prior to Dollar Tree, Creedon held leadership roles at Advance Auto Parts, Tyco International and ADT Security.
Chairman of the board Edward J. Kelly III noted, “The additions of Bill, Tim and Mike complement our current board of directors’ skillsets and experiences, strengthening our ability to accelerate our growth strategy as a leader in value retailing.”
Last week, reports emerged that private-equity firms Apollo Global Management and Sycamore Partners and investment company Brigade Capital Management were interested in and competing to acquire Dollar Tree’s Family Dollar banner.
Last year, Dollar Tree initiated a formal review of strategic alternatives of the Family Dollar business segment, which it said could include a potential sale, spinoff or other disposition of the business.
Dollar Tree expects fourth-quarter net sales to be in the range of $8.1 billion to $8.3 billion, based on low-single-digit comp sales growth for the enterprise and both of the Dollar Tree and Family Dollar segments. Adjusted diluted earnings-per-share outlook range is expected to be between $2.10 to $2.30.
Chesapeake, Va.-based Dollar Tree operates more than 16,000 Dollar Tree, Family Dollar and Dollar Tree Canada stores across 48 states and five Canadian provinces. The company is No. 20 on The PG 100, PG’s 2024 list of the top food and consumables retailers in North America.
