Retail/Wholesale: MICHAEL A. WITYNSKI

Fortune 500 discount retailer Dollar Tree, which has more than 15,600 Dollar Tree and Family Dollar stores across the continental United States and Canada, raised eyebrows in June with a C-suite shake-up. The company said it would seek replacements for its chief operating officer, chief strategy officer, chief financial officer, chief information officer and chief legal officer.

The move followed a proxy battle with activist investor group Mantle Ridge LP, which was settled in March after Dollar Tree named Richard Dreiling, former chairman and CEO of rival Dollar General, as the board’s executive chairman. Mantle Ridge CEO Paul Hilal became vice chair.

Amid rising supply chain costs, Dollar Tree also made news in February, increasing its famous $1 baseline to $1.25, well above the rate of inflation. During a May earnings call, the company’s chief financial officer noted 2022 sales are expected to range between $27.76 billion to $28.14 billion. “I believe we are at an inflection point to exhibit our earnings power into the years ahead,” said Witynski, who joined the company as senior vice president in 2010 and was promoted to chief operating officer before becoming president and CEO in 2020.