Howard Levine Departing Dollar Tree

Following the completion of his role in Family Dollar's integration with Dollar Tree, former Family Dollar CEO Howard R. Levine is stepping down from the combined company, effective Jan. 15.

The Chesapeake, Va.-based discounter completed its acquisition of more than 8,200 Family Dollars stores across 46 states on July 6, 2015.

Gary Philbin, who was named Family Dollar's president and COO at that time, will continue leading Family Dollar in Levine's absence, reporting to Dollar Tree CEO Bob Sasser.

"It has been an honor to serve Family Dollar over the past 25 years," Levine said, noting that he's been impressed by "Dollar Tree's commitment to discipline and execution in running a value retail business. I am confident that both the Family Dollar and Dollar Tree banners are well-positioned for many years of growth and success."

Added Sasser: "It was very important to me for Howard to remain with our company and to contribute to the combination of our two large organizations. He has been an integral leader at Family Dollar for more than two decades."

Levine's father, Leon Levine, founded the Family Dollar brand in 1959 with its first store in Charlotte.

Dollar Tree operates more than 14,038 stores across 48 states and five Canadian provinces under the banners of Dollar Tree, Family Dollar, Dollar Tree Canada, and Deals.