Former Tyson Foods executive to become Dollar Tree CFO

Chesapeake-based Fortune 500 discount retailer Dollar Tree announced Wednesday that former Tyson Foods executive Stewart Glendinning will become the company’s next chief financial officer, effective March 30.

Glendinning joined the company earlier this year in a senior role focused on transformation initiatives, including key areas within the company’s finance organization. He is succeeding Jeff Davis, who earlier announced plans to step down. Davis will remain with the company for a brief period to ensure a smooth transition, according to the company’s news release.

“Stewart is a proven leader with a strong track record of driving financial excellence,” Dollar Tree CEO Mike Creedon said in a statement. “In his short time with us, he’s contributed significantly to the review of strategic alternatives for our Family Dollar business, where we continue to make good progress. I look forward to working closely with Stewart as we seek to accelerate growth at Dollar Tree in 2025.”

Before Dollar Tree, Glendinning held numerous leadership roles, including CEO of Express and global CFO roles at Tyson Foods and Molson Coors Brewing Company.

He has a bachelor’s degree from William & Mary and a law degree from the University of Miami Law School. He is also a board member for The North West Co., a Canadian grocery and retail chain.

“I’m honored to step into the CFO role at Dollar Tree at such a pivotal time,” Glendinning said in a statement. “What attracted me to Dollar Tree is its amazing culture, the passion of its people, and a very meaningful opportunity to drive a huge amount of value for the business. I look forward to working with the leadership team and our talented finance organization to drive continued growth and financial strength.”

As of Nov. 2, 2024, Dollar Tree operated 16,590 stores across 48 states and five Canadian provinces. The stores operate under the Dollar Tree, Family Dollar and Dollar Tree Canada brands. According to the company’s website, it had more than 211,000 employees as of February 2024.

Dollar Tree plans to report financial results for the fourth quarter of 2024, the period ending on Feb. 1, before the stock market opens on March 26. This will be followed by a conference call for investors and analysts.

In its fiscal 2024 third quarter results, Dollar Tree reported $7.56 billion in consolidated net sales, up 3.5% compared with the third quarter of fiscal 2023. In its full-year 2024 outlook, the retailer said it anticipates net sales of $30.7 billion to $30.9 billion for the year, slightly up from $30.6 billion in revenue reported last year.

In March 2024, Dollar Tree announced plans to close 1,000 Family Dollar stores, and two months later it laid off 54 corporate employees. However, in December 2024, Dollar Tree announced that it had opened 249 new Dollar Tree and six new Family Dollar stores.