Howard Levine, whose family founded Family Dollar nearly 60 years ago, will leave the company on January 15,
the
Charlotte Business Journal
reported.
He had been with Family Dollar for more than 25 years, the report said.
Family Dollar was acquired by Dollar Tree Inc. in July; the deal was valued at about $10 billion, the article said.
Levine had signed an agreement to continue as CEO for two years after the close of the merger and was given a seat on Dollar Tree’s board, but the company announced he had “completed his role” in the integration of the companies, the article said.
Gary Philbin, who became president and COO in July, will succeed Levine as the head of the Family Dollar brand, the journal report said. (Source:
Charlotte Business Journal
, Jan. 8, 2016.)
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