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Dollar General CEO to retire next year

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By Bloomberg News
Saturday, June 28, 2014, 12:01 a.m.

Dollar General Corp. Chief Executive Officer Rick Dreiling plans to retire in 2015, according to a statement on Friday.

Dreiling, 60, plans to step down as CEO by May 30 or whenever a successor is hired, according to the statement.

Dollar General is seen as a potential acquirer of rival Family Dollar Stores Inc., which investor Carl Icahn has said should put itself up for sale.

Dreiling's departure throws a wrench into Icahn's proposal, analysts said.

Dollar General fell 7.3 percent to $57.19 at the close in New York, the biggest daily decline since June 2013.

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