8-KLeadership ChangesOther Events

DOLLAR GENERAL CORP 8-K Report, Executive Changes (Apr 10, 2008)

Filed April 10, 2008For Securities:DG

Summary

Dollar General Corporation (DG) filed a Form 8-K on April 10, 2008, primarily to disclose executive-level personnel changes. The most significant update concerns David L. Beré, who has entered into a new five-year letter agreement to continue as President and Chief Strategy Officer. This agreement effectively extends his employment term and adjusts his bonus structure for 2008, with future bonuses determined by the company's established bonus plans. This demonstrates a commitment to retaining key leadership within the organization. Additionally, the filing announces the departure of two other senior executives: Beryl J. Buley, Division President of Merchandising, Marketing and Supply Chain, and Wayne Gibson, Senior Vice President of Dollar General Markets and Shrink. Both executives will cease employment on April 15, 2008, and will receive payments and benefits as outlined in their respective employment agreements, contingent upon signing a release. These departures, coupled with the extension of Mr. Beré's tenure, suggest a period of executive realignment within Dollar General.

Key Highlights

  • 1David L. Beré secured a new five-year employment term as President and Chief Strategy Officer, commencing April 8, 2008.
  • 2Mr. Beré's 2008 bonus opportunity will be prorated and determined by a combination of his existing employment agreement terms and a forthcoming 2008 Bonus Plan.
  • 3Beryl J. Buley, Division President of Merchandising, Marketing and Supply Chain, will depart the company effective April 15, 2008.
  • 4Wayne Gibson, Senior Vice President of Dollar General Markets and Shrink, will also cease employment on April 15, 2008.
  • 5Both Mr. Buley and Mr. Gibson will receive benefits according to their employment agreements, subject to executing a release.
  • 6The filing references an attached press release dated April 10, 2008, detailing these executive changes.
  • 7This report indicates a strategic decision to retain a key executive while managing other senior personnel transitions.

Frequently Asked Questions

This 8-K filing's primary purpose is to report material events related to changes in Dollar General Corporation's executive leadership, specifically the extension of a key executive's employment and the departure of two other senior officers.

David L. Beré has entered into a five-year letter agreement to continue as President and Chief Strategy Officer. His compensation, particularly his 2008 bonus, will be prorated and determined based on his existing employment agreement and a to-be-established 2008 Bonus Plan. Future bonuses will be determined by the company's standard bonus plans for his position.

Beryl J. Buley, Division President of Merchandising, Marketing and Supply Chain, and Wayne Gibson, Senior Vice President of Dollar General Markets and Shrink, will both cease employment with the company effective April 15, 2008.

Mr. Buley and Mr. Gibson will receive payments and benefits as stipulated in their respective employment agreements, provided they execute a release as required.