Dollar General’s SVP, Chief Strategy Officer Exits Company
Donny Lau, who served as Dollar General’s SVP and chief strategy officer for the past year, has left the company to take over the role of CFO at quick-service chicken restaurant Zaxby’s. Lau had been with Dollar General since 2017 and held a variety of leadership positions overseeing many of the company's key corporate finance functions including strategy, corporate development, investor relations, financial planning and analysis, and strategic planning.
Lau was promoted to SVP and chief strategy officer last August from the position of VP, investor relations and corporate strategy. In that most recent role, he focused on developing and evolving the retailer’s strategic vision and initiatives, implementing strategic partnerships and identifying long-term growth catalysts.
As for Dollar General’s current strategy, the company is putting “Food First” by investing heavily in store brands. The discount retailer has expanded its private label Clover Valley to include national-brand alternatives, debuting more than 100 new items for 2023. This includes a wider selection of sauces, condiments, entrees, sides, snacks and more at what the company described as affordable price points, with many also featuring stylish new packaging designs.
[Read more: "Store-Brand Dollar Share Reaches Record Level"]
The new initiative is a broader strategy to provide customers with healthier options, including more food products and fresh food. While the company isn’t a grocer, approximately 80% of Dollar General stores serve communities of 20,000 or fewer people, with many Americans, especially in rural areas, relying on the retailer for their basic, everyday and household essentials.
As of May 5, Goodlettsville, Tenn.-based Dollar General operated 19,294 Dollar General, DG Market, DGX and pOpshelf stores across the United States, and Mi Súper Dollar General stores in Mexico. The company is No. 16 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.
