Dollar Tree Names New CFO
Dollar Tree Inc. has named Stewart Glendinning as its new CFO, replacing Jeff Davis, who will step down effective March 30 but stay with the company for a short period to ensure a smooth transition. Glendinning had joined Dollar Tree earlier this year in a senior role focused on enterprise-wide transformation initiatives.
“We are pleased to announce that Stewart will become our next CFO,” said Mike Creedon, Dollar Tree CEO. “Stewart is a proven leader with a strong track record of driving financial excellence. In his short time with us, he’s contributed significantly to the review of strategic alternatives for our Family Dollar business, where we continue to make good progress. I look forward to working closely with Stewart as we seek to accelerate growth at Dollar Tree in 2025.”
Prior to joining Dollar Tree, Glendinning served as CEO of Express, Inc., and previously held global CFO roles at Tyson Foods and Molson Coors Brewing Co.
“I’m honored to step into the CFO role at Dollar Tree at such a pivotal time,” said Glendinning. “What attracted me to Dollar Tree is its amazing culture, the passion of its people, and a very meaningful opportunity to drive a huge amount of value for the business. I look forward to working with the leadership team and our talented finance organization to drive continued growth and financial strength.”
Last week, Dollar Tree appointed William W. Douglas III and Timothy Johnson to the company’s board of directors, effective immediately. Creedon also joined the board at that time.
Creedon, for his part, was officially named CEO of Dollar Tree in December. Creedon stepped into the interim role after Rick Dreiling left the company due to health issues in early November. Creedon has been with Dollar Tree since 2022 and was most recently COO.
It’s a seemingly pivotal time for the value retailer, as reports emerged last month 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.
The company will share its fourth quarter financial report on March 26.
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.
