Dollar Tree CEO gets $100,000 raise

Posted to: Business Dollar Tree
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By Carolyn Shapiro
The Virginian-Pilot
© March 20, 2008

The board of directors of Dollar Tree Inc. has approved compensation for its top executives in 2008, including a $100,000 raise for Bob Sasser, its chief executive.

At its meeting last week, the board's compensation committee boosted Sasser's base salary to $850,000 and approved a potential bonus of $850,000 for the 2008 fiscal year, which began Feb. 3. Sasser also received a $1 million bonus for 2007. The base salary for Gary Philbin, chief operations officer, rose from $460,000 to $500,000, plus a potential bonus of $250,000 this year. For 2007, Philbin received a bonus payment of $305,945.

Board Chairman Macon F. Brock Jr., the company's former CEO, received a bonus payment of $270,840 for 2007. Potential bonuses for 2008 depend on the company achieving its earnings-per-share goal and executives meeting personal performance goals, a federal regulatory filing said.

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It's amazing

Submitted by Ethan on Wed, 03/19/2008 at 9:48 pm.

It's amazing that items sold for $1 each goes that far! Perhaps Dollar Tree will do better as the economy tanks and more shoppers revert to dollar stores for more goods?