8-KLeadership ChangesCorporate ChangesRegulation FD+1

DOLLAR TREE, INC. 8-K Report, Executive Changes (Jun 22, 2007)

Filed June 22, 2007For Securities:DLTR

Summary

Dollar Tree Stores, Inc. (DLTR) filed an 8-K on June 22, 2007, primarily reporting changes to its Board of Directors and bylaws, in addition to announcing its Annual Meeting of Shareholders information. Key changes include the retirement of long-serving director John Megrue and the appointment of two new Class III directors, Lemuel E. Lewis and Dr. Carl P. Zeithaml, effective July 1, 2007. Mr. Lewis brings extensive financial and executive experience from Landmark Communications and the Federal Reserve Bank of Richmond, while Dr. Zeithaml is the Dean of the McIntire School of Commerce at the University of Virginia, specializing in strategic management. Both new directors will stand for election at the 2008 Annual Meeting and will receive annual retainers, with additional compensation for committee service. Additionally, the company amended its bylaws to increase the size of its Board of Directors from eleven to twelve members.

Key Highlights

  • 1John Megrue retired from the Board of Directors after 14 years of service.
  • 2Lemuel E. Lewis, a retired CFO of Landmark Communications and board member of the Federal Reserve Bank of Richmond, was appointed as a Class III director.
  • 3Dr. Carl P. Zeithaml, Dean of McIntire School of Commerce at the University of Virginia, was appointed as a Class II director.
  • 4Both new directors will stand for election at the 2008 Annual Meeting of Shareholders.
  • 5Mr. Lewis is expected to join the Audit Committee, and Dr. Zeithaml is expected to join the Compensation Committee.
  • 6The company amended its bylaws to increase the size of the Board of Directors from eleven to twelve members.
  • 7The filing includes information regarding the Annual Meeting of Shareholders, disseminated via press release.

Frequently Asked Questions

John Megrue retired from the Board of Directors effective June 21, 2007, at the end of his term. He had served on the Board since 1993.

Lemuel E. Lewis and Dr. Carl P. Zeithaml were appointed as directors, effective July 1, 2007. Mr. Lewis has a background in finance and executive leadership, while Dr. Zeithaml is an academic specializing in strategic management.

The Board size has been increased to twelve members. The new directors, Mr. Lewis and Dr. Zeithaml, are expected to bring valuable expertise in finance, audit, and strategic management to key committees, enhancing governance and oversight.

Yes, under Virginia law, directors appointed by the board to fill vacancies will stand for election at the next shareholders' meeting. Therefore, Mr. Lewis and Dr. Zeithaml will be up for election at the 2008 Annual Meeting of Shareholders.