Dollar Tree hires 4 new C-suite executives

Dive Brief:

Continuing its leadership revamp, Dollar Tree has hired Jennifer Bohaty as chief compliance officer, Terence Goods as chief diversity officer, Jennifer Silberman as chief sustainability officer and Kristin Tetreault as chief communications officer, according to a Thursday press release.
Bohaty previously served as global chief of ethics and compliance at LL Flooring, executive director of global product safety, quality and compliance at Toys R Us and senior product safety manager at Target. Goods previously served as the vice president of diversity and inclusion at Southern Glazer’s Wine and Spirits, and he also held positions at Wells Fargo, Bank of America and J.C. Penney.
Before joining Dollar Tree, Silberman was vice president of ESG for Yeti. Tetreault was previously the vice president of enterprise and executive communications at Stanley Black & Decker, according to the press release.

Dive Insight:

For Dollar Tree, the executive leadership changes keep on coming. In June, the company’s chief legal officer, chief operating officer, chief strategy officer and chief information officer all departed the company. At that time the company also stated CFO Kevin Wampler was leaving once a successor was appointed, but staying on as an advisor until April 2023. The retailer later named Jeffrey Davis as its new CFO.

In July, Dollar Tree appointed Bobby Aflatooni as its new chief information officer, bringing with him prior experience from Dollar General. In September, the retailer named Michael Creedon as its new chief operating officer, who previously was the executive vice president of stores in the U.S. for Advance Auto Parts.

The wave of executive changes follows the retirement of Dollar Tree executive chairman and former CEO Bob Sasser. Richard Dreiling, Dollar General’s former CEO, became the company’s executive chair. Meanwhile, after some criticism of the company from investment firm Mantle Ridge, Paul Hilal, CEO of Mantle Ridge, became vice chair of the board.

“As we continue to build our leadership team capability and focus intently on culture, compliance and ESG, I’m pleased to announce the additions of Jennifer Bohaty, Terence Goods, Jennifer Silberman and Kristin Tetreault to the Dollar Tree team,” Mike Witynski, president and CEO, said in a statement. “These important additions demonstrate our Company’s commitment to improving the experiences of our shoppers and building an engaging culture of belonging for our associates.”

In addition to swapping out its executive leadership, the retailer has shifted its pricing and brick-and-mortar strategy. Last November, it increased its prices to $1.25, a move it made after charging $1 per item for 35 years. The company noted that it added 70 new stores in Q2, during which its operating profits rose 25.7% to $505.4 million.