US: Dollar Tree announces new chief executive - How effective was the earlier CEO’s run?
Dollar Tree has a new CEO. The American discount variety store chain has named former Dollar General chief Rick Dreiling as its next chief executive. He will be replacing Michael Witynski whose tenure as Dollar Tree's CEO began in July 2020, at the peak of the pandemic.
Dreiling (who currently serves as executive chairman on Dollar Tree’s board and will continue to do so) will take over as the CEO effective 29 January 2023. The CEO appointment follows a series of C-suite shakeups at the Virginia-headquartered company, including new occupants in the CIO, CFO and COO posts.
How did the retailer perform under the outgoing CEO?
According to YouGov BrandIndex - which tracks consumer sentiment towards thousands of brands daily - Dollar Tree’s brand health fell under Witynski as its CEO.
The brand’s Index metric - which is an overall measure of brand health, made up of General Impression, Customer Satisfaction, Quality, Value, Corporate Reputation and Recommendation - dropped from a net score of 15 on 20 July 2020 (when Witynski was named CEO) to 11 on 25 January 2023.
Dollar Tree’s Current Customer metric, however, improved by three percentage points between 20 July 2020 (22%) to 25 January 2023 (25%).
The company’s Consideration metric - which indicates how many consumers are considering purchasing from the brand, when next in market - remained mostly unchanged throughout the observation period.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day.
Dollar Tree’s Index score is an overall measure of brand health, made up of General Impression, Customer Satisfaction, Quality, Value, Corporate Reputation and Recommendation and delivered as a net score between -100 and +100. Its Consideration score is based on the question: When you are in the market next to purchase goods, from which of the following would you consider purchasing? and delivered as a percentage. Its Current Customer score is based on the question: Have you purchased goods from any of the following stores in the past 3 months? and delivered as a percentage. Scores are based on an average daily sample size of 6977 US adults between 1 July 2020 and 25 January 2023. Figures are based on a 12-week moving average. Learn more about BrandIndex.
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