Dollar Tree names John Mitchell as new chief legal officer

CHESAPEAKE, Va. - Dollar Tree, Inc. (NASDAQ:DLTR), the retail giant with a market capitalization of $23.8 billion, announced Thursday that John S. Mitchell, Jr. will become the company’s new Chief Legal Officer and Corporate Secretary effective August 11, 2025, succeeding Jonathan B. Leiken who is departing to pursue another career opportunity.

Mitchell, who has been with Dollar Tree since 2021 serving as Senior Deputy General Counsel, previously worked as a partner at the law firm Williams Mullen. He holds a J.D. from the University of Virginia School of Law and a Bachelor of Arts from Princeton University.

"John is a highly respected attorney whose sharp legal acumen and steady leadership have guided us through moments of significant change," said Mike Creedon, Chief Executive Officer of Dollar Tree, in a press release statement.

Leiken, who has served in the role for two years, will remain with the company until August 22 to support the transition.

The leadership change comes shortly after Dollar Tree completed the sale of its Family Dollar business earlier this month. The company currently operates more than 9,000 stores across 48 U.S. states and five Canadian provinces with approximately 150,000 associates.

Dollar Tree described the promotion as "the result of thoughtful succession planning" and noted that Mitchell "understands our business, our people, and the importance of protecting and advancing our mission."

In other recent news, Dollar Tree has made several notable announcements that are capturing investor attention. The company’s Board of Directors has replenished its share repurchase program to a total of $2.5 billion, which includes remaining amounts from a prior authorization. This move comes after Dollar Tree reported approximately $450 million left under the previous authorization at the end of its fiscal 2025 first quarter. In terms of stock evaluations, Barclays upgraded Dollar Tree from Equalweight to Overweight, raising its price target to $150, citing growth potential following the sale of Family Dollar. Barclays highlighted strong momentum in Dollar Tree’s first and second quarters, driven by consumer behavior and competitor closures. Furthermore, Guggenheim and Wells Fargo both increased their price targets for Dollar Tree to $130, maintaining Buy and Overweight ratings, respectively. Guggenheim’s target reflects a 10.6x multiple of its 2026 earnings estimate, while Wells Fargo noted positive early results from Dollar Tree’s multi-price strategy. Additionally, UBS raised its price target to $127, emphasizing the simplification of Dollar Tree’s business model post-Family Dollar sale.

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