Dollar General has announced that Todd Vasos, the chain's former chief executive, is returning to the company as CEO.
Vasos stepped down as CEO of Dollar General nearly a year ago, following seven-and-a-half years in the role. Jeff Owen succeeded him. Vasos remained on the board of directors and served as an adviser until April, when he retired.
Dollar General Chairman Michael Calbert said the CEO change was "necessary to restore stability and confidence in the company moving forward." The stock had fallen nearly 60% this year, prior to the announcement.