March 24 (Reuters) – Dollar General on Tuesday named Jerry “JJ” Fleeman Jr. as its new chief executive officer, effective January 1, 2027, replacing company veteran Todd Vasos.
Fleeman is currently the CEO of the U.S. division of multinational retailer Ahold Delhaize, and has worked with the company for over 35 years. He also helmed the creation of a proprietary e-commerce platform for Ahold Delhaize USA, Dollar General said in a statement.
Vasos served as Dollar General’s top boss for a combined 10 years from 2015, steering the company as it expanded its digital presence and delivery options.
He came back as CEO for a second term in 2023, less than a year after his first stint at the helm from 2015 to 2022, to help tackle weakening consumer spending among lower- and middle-income consumers amid sticky inflation and elevated inventory levels.
Vasos is expected to remain a board member after Fleeman takes over as CEO next year and will serve as senior advisor through April 2, 2027, Dollar General said in a statement.
The announcement of a new CEO comes just days after the company forecast soft full-year sales that sent shares of the dollar store chain tumbling.
Big box and discount retailers have reported increased traffic from higher-income consumers even as lower-income shoppers struggle to afford essentials amid elevated food and gas prices.
While Dollar General offers a majority of its products at or below $1, import tariffs in the U.S. and the impact of the Middle East crisis on gas prices have added to concerns around consumer spending this year.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Devika Syamnath)
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