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Dollar Tree Chairman's Exit May Signal Activist Pact

  • Sasser plans to retire ahead of 2022 shareholder meeting
  • Barclays sees sign of deal; Piper calls it a win for activist
Dollar Tree store in Detroit, Michigan.

Dollar Tree store in Detroit, Michigan.

Photographer: Sean Proctor/Bloomberg

Dollar Tree Inc. shares rose as the retirement of Executive Chairman Bob Sasser fanned speculation that the retailer is nearing an agreement with activist investor Mantle Ridge, which is pushing for new leadership and a strategic review. 

Sasser, 70, will step down before the annual shareholder meeting after more than 20 years with the company, Dollar Tree said in a statement Friday. The Chesapeake, Virginia-based discounter didn’t immediately name a replacement. Its shareholder meeting is typically held in mid-June.