Dollar General: Rick Dreiling Will Continue As CEO - Quick Facts

(RTTNews) - Dollar General Corp. (DG) announced that Rick Dreiling will continue as chairman and CEO through January 29, 2016 or, if earlier, the appointment of a successor. The Board of Dollar General noted that it is actively engaged in the development of the company's strategic growth plans, capital allocation priorities and leadership succession and will provide an update when plans are finalized.

The company also commented on the vote by shareholders of Family Dollar Stores, Inc. (FDO) to approve a proposed merger with Dollar Tree, Inc. (DLTR).

Rick Dreiling, CEO, said: "Today's vote is a loss not only for Family Dollar shareholders, but also for consumers across the country who will not have the opportunity to benefit from the cost savings and efficiencies that we believe would have been created by a merger between Dollar General and Family Dollar. Despite our best efforts over the past few months, Family Dollar's lack of engagement and a contracted transaction timeline ultimately prevented us from completing this transaction."