Dollar Tree Chairman Takes CEO Job as Activist Shake-Up Advances

Dollar Tree Inc. Chairman Rick Dreiling is taking the reins as chief executive officer, furthering a leadership revamp spurred by activist investor Mantle Ridge.

Dreiling, 69, will replace company veteran Mike Witynski, 59, in the top job Jan. 29, the discount retailer said in a statement Tuesday. Witynski, who became CEO in 2020, is stepping down from the board and leaving Dollar Tree 10 months after Dreiling joined the company as chairman and Mantle Ridge founder Paul Hilal became vice chair.

The CEO change signals Mantle Ridge’s tightening grip on Dollar Tree as the company tries to close a ...