The board of directors of Dollar General Corp. (Goodlettsville, Tenn.) named Donald Shaffer as acting ceo, effective Nov. 12, 2002. Shaffer will also continue as president and coo. Cal Turner, who had been the discount retailer's ceo for 25 years, will serve as chairman.
Shaffer, a 30-year veteran of Sears Roebuck & Co. (Hoffman Estates, Ill.), former ceo of Sears Canada Inc. (Toronto) and former ceo of Heilig-Meyers, the bankrupt Richmond,Va.-based furniture retailer, joined Dollar General in 2001 as president and coo. He is on the list of candidates for a long-term ceo, a search being conducted by the board. No timetable has been put on this decision.
Turner, son and grandson of company founders J.L. and Cal Turner Sr., announced his intention to retire in September. He has been with the company since 1965. Under his 25 year reign, Dollar General grew from a chain of about 400 stores doing $130 million a year in sales to a chain of more than 6000 stores with annual sales in excess of $5.3 billion.