Dollar Tree, Inc. (NASDAQ:DLTR) has announced that Gary Philbin is taking over as its new President and CEO.

Gary Philbin is taking over the position of CEO at Dollar Tree from Bob Sasser. Sasser has served as the CEO of since 2004. Prior to this, he was the retail company’s COO in 1999, and then its President and COO in 2001. Starting today, he will serve as the Executive Chairman of the Board for DLTR.

Here are a few things to know about new Dollar Tree CEO Gary Philbin.

• He joined the discount retailer in 2001 as its Senior Vice President of Stores.
• Philbin took on the role of COO at Dollar Tree in 2007.
• He then went on to become its President and COO in 2013.
• When Dollar Tree acquired Family Dollar back in 2015, Gary Philbin became the President and COO of Family Dollar.
• Philbin’s most recent position prior to taking over as CEO at DLTR had him becoming the Enterprise President of Family Dollar and Dollar Tree at the start of the year.
• Gary Philbin’s promotion to CEO of Dollar Tree also includes him joining the company’s Board of Directors.

“Working with our Board of Directors, I have been planning leadership succession for some time and we are confident this will be a seamless transition, both inside and outside of the Company,” Bob Sasser said in a statement. “Our Board of Directors and leadership team have complete confidence in Gary’s ability to lead Dollar Tree through its next phases of growth.”

DLTR stock was up slightly as of noon Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.