business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  From the Wall Street Journal this morning:

"Dollar Tree Inc. said its finance chief is stepping down as part of a broader executive reshuffling as the discount retailer faces pressure from an activist investor to improve its performance.

"Kevin Wampler, chief financial officer since 2008, will step down from his role once a successor is found, Chesapeake, Va.-based Dollar Tree said Tuesday. Mr. Wampler will stay on as an adviser until April to help with the transition, the company said.

"Dollar Tree also said four other top executives no longer work at the company: William Old, chief legal officer; Thomas O’Boyle, chief operating officer; David Jacobs, chief strategy officer; and Andy Paisley, chief information officer. The company said it is conducting searches for their successors, and in some cases is in advanced discussions with candidates, it said in a press release. It declined to comment further."

The Journal suggests that the changes reflect efforts on the part of chairman Rick Dreiling - who once led a turnaround as CEO of rival Dollar General - to put his own team in place.

Interesting that "chief rat hunter" is not listed among the jobs being filled, which it ought to be since Dollar Tree had to close a distribution center that was infested.  It was back in March that I wrote, "I don't how management at this company - 'leadership' would be the wrong word to use here - are keeping their jobs."

Maybe they just decided to fumigate the c-suite.