CNBC reports that "Dollar General’s former CEO Todd Vasos is coming out of retirement to helm the company, which aims to rebound from slowing growth and allegations of unsafe working conditions.
"Vasos, who served as the discounter’s CEO between June 2015 to November 2022, will replace Jeff Owen effective immediately, the company announced on Thursday … Owen had been in the role for less than a year. During that time, Dollar General has seen a slowdown in its sales growth and has faced criticism from federal officials and activists for having unsafe stores that put employees at risk.
"The company, which is rapidly adding stores and expanding its footprint, has more than 19,000 locations in 47 states. Dollar General has more than 185,000 full- and part-time employees."
- KC's View:
Dollar General seems to be taking a page from Starbucks' book. I'd argue that it has a lot of issues to deal with - like concerns about worker safety and various investigations - that actually go back to Vasos' original tenure. Is he the right person to fix the problems? Or is he just better at wallpapering over the problems so they're less visible?