Dollar Tree has announced that Duncan MacNaughton, a seasoned retail industry executive, will be taking on the role of CEO at the Family Dollar chain. This move comes as the chain is in the process of being acquired by private-equity investors for approximately $1 billion.
MacNaughton, who previously served as the finance chief at Family Dollar until 2019 and has experience working at retail giant Walmart, will be stepping into his new position once the sale to Brigade Capital Management and Macellum Capital Management is finalized, expected to be in the second quarter of 2025.
Family Dollar, which was spun off in March after an extensive search for buyers, has been facing tough competition in the market for affordable goods from larger retailers and online shopping platforms. This acquisition comes after Dollar Tree outbid its rival Dollar General to acquire the discount store chain for $9 billion back in 2015.
This strategic move by Dollar Tree aims to strengthen its position in the competitive retail landscape and drive growth for the Family Dollar brand under the leadership of Duncan MacNaughton.
Source: Reuters
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