Dollar Tree’s accounting chief resigns

Dollar Tree Principal Accounting Officer Kathleen Mallas, who has spent more than a quarter century with the retailer, has resigned, the discounter announced in a federal filing last week.

Mallas’ resignation is effective “on or about” May 31 and her departure is not due to any disagreement with the retailer or any issues with the company’s finances, the filing said.

Dollar Tree said it is currently hunting for a replacement for Mallas.

Mallas served as SVP and chief accounting officer for Chesapeake, Virginia-based Dollar Tree since April 2016, according to her LinkedIn profile. She began her tenure with the dollar store in 1997 as manager of financial reporting.

Dollar Tree’s executive ranks have undergone a near-total transformation since last summer, when the chain announced the departure of its COO, CIO, chief legal officer, chief strategy officer and CFO.

In January, Dollar Tree named Rick Dreiling CEO, ending the tenure of Mike Witynski, who had been with the company since 2010 and chief executive since 2020. Dreiling had previously served as chairman and CEO of competitor Dollar General.

Dollar Tree, which is also the parent company of Family Dollar, last month revealed a significant move into grocery with plans to open a test kitchen and roll out hundreds of private-label products. The retailer said it has been “aggressively expanding” its selection of $3-$5 frozen and refrigerated foods. Dollar Tree also recently started carrying bread and ice.

“There’s an appetite for it in the stores,” Dreiling told analysts. “Consumables drive transactions.”

Dollar Tree operated about 8,100 stores and an equal number of Family Dollar locations as of January.