Dollar Tree Fills COO Role
To help accelerate the growth of the company, Dollar Tree Inc. has named Michael Creedon Jr. its new COO. The discount retailer cut ties with former COO Thomas O’Boyle in June amid the restructuring of its executive leadership team.
“I am extremely pleased to announce that Mike Creedon will be joining the Dollar Tree team as our new chief operating officer. Mike’s impressive career in retail is rooted in a deep knowledge and understanding of his customers,” said Mike Witynski, president and CEO. “Mike will be instrumental in driving the execution of our strategy, and a key leader supporting our culture transformation in Dollar Tree, Family Dollar and Dollar Tree Canada stores.”
Creedon joined Advance Auto Parts in December 2013 and had held the role of EVP, U.S. stores since March 2021. Previously, he was president, U.S. stores from 2020 to 2021, as well as division president for the company’s north division, including Autopart International, from 2017 to 2020 and president, Autopart International, a wholly owned subsidiary of Advance, from 2013 to 2017.
Prior to joining Advance, Creedon was VP and general manager of Sensormatic LLC – North America sales and operations from 2010 to 2013. Sensormatic is the retail security division of Tyco International (U.S.) Inc. Before his role with Sensormatic, Creedon worked in multiple leadership roles within Tyco International and ADT Security, another division of Tyco. He earned his bachelor’s degree from Middlebury College and a finance certificate from the Chicago Graduate School of Business.
“I look forward to joining the Dollar Tree organization at this key stage in its transformation. We will be committed to improving the in-store experience for our shoppers, as Dollar Tree and Family Dollar are well positioned to be a critical solve for the millions of households dealing with historic inflation,” said Creedon. “My team will be focused on improving operational processes and efficiencies to better support our store associates and field leaders, and the customers they serve. We will be focused on recruiting, training and retaining key retail associates and help them build their careers at Dollar Tree.”
Creedon’s appointment follows other high-level changes for the company. In August, Jeffrey A. Davis became the new CFO. Kevin Wampler is transitioning out of his role as current CFO but is expected to remain with the company as an advisor until April. Over the summer, the retailer also hired Bobby Aflatooni as CIO. In addition, the company recruited two former Dollar General executives for its Family Dollar banner. John Flanigan is now Family Dollar’s chief supply chain officer, while Larry Gatta is chief merchandising officer.
“With Mike Creedon’s arrival and our recent appointments of Jeff Davis, Bobby Aflatooni, Larry Gatta and John Flanigan, we are truly building a world-class retail leadership team that will help to accelerate the growth of the company. In the coming months, I will continue to fill key roles and announce new executive team members. We have a bright future, and it is an exciting time to be part of Dollar Tree!” added Witynski.
For its second quarter ending July 30, Dollar Tree reported earnings of $1.60 per share on net income of $359.9 million for the quarter, compared with earnings of $1.23 per share on net income of $282.4 million year-over-year. Net sales increased 6.7% to $6.77 billion, and same-store sales rose 7.5% at Dollar Tree and 2.0% at Family Dollar.
Chesapeake, Va.-based Dollar Tree operated 16,231 stores under the Dollar Tree, Family Dollar and Dollar Tree Canada banners across 48 states and five Canadian provinces as of July 30. The company is No. 29 on The PG 100, Progressive Grocer’s 2022 list of the top food and consumables retailers in North America.
