Discount retailer Dollar Tree Inc. named a new CEO Monday as part of its planned leadership succession.
Gary Philbin, who had been the enterprise president at Dollar Tree, was promoted to president and CEO of the Chesapeake-based company and appointed to its board of directors.
Bob Sasser, 65, is now the executive chairman. Macon Brock, a co-founder of the company who had been chairman of the company, will remain on the board and become chairman emeritus.
Sasser, who has been president and CEO since 2004, joined Dollar Tree in 1999 as chief operating officer. He was promoted to president and chief operating officer in 2001.
