Summary
This 8-K filing from Dollar Tree Stores, Inc. (DLTR) reports the resignation of its Chief Financial Officer (CFO), Kent A. Kleeberger, effective October 26, 2007. Mr. Kleeberger is departing to pursue other career opportunities. As a result of his resignation, his Change in Control Retention Agreement will terminate on the same date. In the interim, Kathleen E. Mallas, Vice President-Controller, has been appointed as the principal financial and accounting officer until a permanent CFO is found. Ms. Mallas has a long tenure with the company, having joined in 1997 and holding various financial roles. Investors should monitor the company's progress in finding a new CFO and any potential impact on financial strategy or operations.
Key Highlights
- 1Chief Financial Officer (CFO) Kent A. Kleeberger resigns, effective October 26, 2007.
- 2Resignation is for the purpose of pursuing other career opportunities.
- 3Change in Control Retention Agreement with Mr. Kleeberger terminates due to his resignation.
- 4Kathleen E. Mallas, VP-Controller, appointed as interim principal financial and accounting officer.
- 5Ms. Mallas has been with Dollar Tree since 1997 in various financial roles.
- 6Company issued a press release on October 19, 2007, announcing the CFO's departure.
- 7The filing notes that the information furnished under Item 7.01 is not deemed 'filed' for Section 18 purposes.
Frequently Asked Questions
According to the filing, Mr. Kleeberger is resigning to pursue other career opportunities.
Kathleen E. Mallas, who currently serves as Vice President-Controller, has been appointed as the principal financial and accounting officer until a new Chief Financial Officer is appointed.
The agreement will terminate effective October 26, 2007, the same date as Mr. Kleeberger's resignation.
The filing states the CFO is leaving to pursue other career opportunities, with no indication of financial instability being the cause.