Sasser will become executive chairman of Dollar Tree's board,
the company said.
Philbin, 60, joined Dollar Tree as senior vice president of
stores in 2001 and was named chief operating officer six years
later. He was appointed enterprise president earlier this year
with responsibilities for both the Dollar Tree and Family Dollar
chains of stores.
Sasser oversaw Dollar Tree's $9.1 billion acquisition of Family
Dollar in 2015, making it the biggest dollar store chain in the
Dollar Tree's market value rose from about $2.3 billion to $19.8
billion since Sasser became CEO in 2004, the company said.
Sasser joined the retailer as chief operating officer in 1999.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sai Sachin
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