Dollar Tree $DLTR (+4,98 %) CEO Rick Dreiling steps down as Chairman and CEO due to health concerns. COO Michael Creedon Jr. steps in as interim CEO, while Edward Kelly becomes Chairman. The company remains on track with its Q3 guidance, noting that same-store sales have “tracked well” and expressing optimism for the upcoming holiday season.

Dollar Tree also reports strong progress on its strategic review of Family Dollar, exploring options like a sale or spin-off. They aim to complete this process with ongoing input from advisors. Additionally, Dollar Tree's board is actively searching for a permanent CEO, considering both internal and external candidates.

Creedon, who joined Dollar Tree in 2022 and expanded his oversight this year, expressed confidence in the company’s current direction, stating, "We’re excited about our trajectory and committed to finding the best path for Family Dollar.”