Dollar Tree CEO Steps Down Amid Health Issues

Dollar Tree saw a surge in after-hours trading on Monday after announcing that Rick Dreiling, its chief executive and chairman, will step down due to health problems.

"With my health presenting some new challenges over the past two months, the time is right for me to step away and focus on myself and my family," Dreiling stated in a press release.

Following this news, Dollar Tree Inc (NASDAQ:DLTR) experienced a rise of more than 4%.

The company's Chief Operating Officer, Michael C. Creedon Jr., has been appointed as interim CEO. Additionally, Lead Independent Director Edward Kelly has been elected as chairman.

Dollar Tree has reaffirmed its Q3 forecast and has begun searching for a permanent CEO.