GOODLETTSVILLE, Tenn. — Dollar General Corp. said Rick Dreiling will retire as chief executive officer effective May 30, 2015, or upon appointment of a successor. He has agreed to continue as chairman for a transitional period after a new CEO has been found, the company stated on June 27.

Dollar General Corp. said Rick Dreiling will retire as chief executive officer effective May 30, 2015, or upon appointment of a successor. He has agreed to continue as chairman for a transitional period after a new CEO has been found, the company stated on June 27.

Dreiling, 60, has served as CEO since January 2008 and was named chairman in December 2008. Since his arrival, Dollar General’s annual sales have increased more than 80% during a difficult time for the U.S. economy. Its store count climbed by 38% in that time, to more than 11,000 outlets in 40 states.

"Rick Dreiling has proven that he is clearly one of retail’s leading CEOs," Mike Calbert, Dollar General’s lead director, said in a statement. "During his tenure as CEO, Rick has driven significant shareholder value and led the company’s improvement on essentially every key operating metric.

"In addition, he has recruited and developed an outstanding management team and strengthened the company’s culture and mission."

Dollar General’s no-frills stores typically measure about 7,200 square feet, and many are located in towns bypassed by larger retailers. Stores typically offer 10,000 branded and private label products, from household items to health and beauty aids and from apparel to food. About 25% of its merchandise is priced at $1 or less.