Todd Vasos Biography & Net Worth
|Popular Name:||Todd Vasos|
Todd J. Vasos
Wilmington, North Carolina, United States
|Net Worth:||$90 Million|
|Last Updated:||December, 2020|
Todd Vasos is an American Businessman and entrepreneur. He is the Director and Chief Executive Officer (CEO) of Dollar General Corporation. He assumed this position in June of 2015 and is still at the helm of the company. Many just know him for being the CEO and Director without knowing much about his background and. He does a remarkable job for the company and it is only fitting to share more valuable information about Todd Vasos net worth and biography so that our esteemed readers can get to find out who he really is and what he has accomplished.
Todd Vasos’ Early Life
Todd J. Vasos considers Wilmington as his hometown. He was born and raised in this peaceful port city in North Carolina, United States. It is also where he returned to after completing his studies at Western Carolina where he acquired a bachelor’s degree in marketing. He once disclosed that it was his mother who encouraged him to study hard and advised him to apply for a management training program at Eckerd. Before he started his successful career in retail, Vasos attended college at the Western Carolina University, the institution from where he earned his undergraduate degree. To date, Todd Vasos remains active in supporting his alma mater.
Todd Vasos’ Career
After completing his studies, Todd Vasos decided it was time to start a career and make a life for himself. When he applied for a management program with one of the biggest drugstore chain that was in existent in the country at that time, he had very slim chances of getting selected with a poll of applicants that numbered over 300. Nonetheless, he was selected along with other five people. This was where he experienced retail management for the first time, and eventually fell in love with the job.
After becoming the head of Dollar General, the company started to witness some impressive increases. This past year has led the marketing giant to some remarkable growth. He has been credited to have been responsible for the opening of 1,300 new retail locations since the beginning of his tenure as the Chief Executive Officer in 2015. This is quite remarkable by all standards considering that there are many other retailers who are either shutting down locations or going out of business entirely. He is certainly doing something worthy at the job even though amidst the economic chaos.
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When Todd Vasos assumed office, he decided to work the company’s strategic vision, and took a look at their target audience. Their customers are mainly people from age 35 to 65 and most of the stores are located in rural areas. He set up the vision to make sure that the stores would meet the most important needs of the people that depended on their services. This is probably why the company has been very successful in recent years. They value their customers, thanks to Vasos’ master craft and foresight which has been beneficial to the company since his arrival.
About Dollar General Corp
Dollar General Corporation is a company that operates a chain of discount retail stores situated primarily in the midwestern, southern, southwestern, and eastern United States. They offer a broad selection of merchandise, which include consumable products such as food, health, beauty, pet supplies, paper and cleaning products, and non-consumables such as seasonal merchandise. The company was established in 1939 as a family-owned business, named J.L. Turner and Son in Scottsville, Kentucky, United States. It was owned by Cal Turner and James Luther Turner. In 1955, the name of the company was changed to Dollar General Corporation. In 1968 the company went public on New York Stock Exchange. Fortune 500 recognized the company in 1999 and in 2020 reached #112. Dollar General has expanded to become one of the leading and most profitable stores in the rural parts of United States with revenue reaching around $27 billion in 2019.
Todd Vasos became the company’s Chief Executive Officer in June 2015. He also became a member of board at the same time. Before that, he occupied the position of the Chief Operating Officer (COO) at Dollar General Corp from November 2013 to June 2015. He also served as the Chief Merchandising Officer, Executive Vice President and President at Dollar General Corp from December 2008 to November 2013. Vasos is also a Board Director at Keycorp. He has worked for Longs Drug Stores as Executive Vice President and Chief Merchandising Officer from 2001 to 2006, and as Chief Operating Officer and Executive Vice President from 2006 to 2008. Todd was the SVP and Chief Merchandising Officer at Phar-Mor for seven years from 1994 to 2001. He also worked in Operations for the Eckerd Drug Company from 1983 to 1994.
Personal Life & Family
Other than his exceptional ability to lead a team of talented and experienced professionals on to greater heights of success, there is much more to Vasos who is also a family man. He is the proud father of four daughters, and he has a total of six grandchildren. He is soon to add a stepson to his squad and he delights in discussing about his beloved family. It is the light in his eyes. He treasures trips back home so that he can visit his family in Wilmington, and he makes the trip severally throughout the year. While he is there, he gets to play golf, a sport that he loves dearly.
Todd Vasos Net Worth
This American businessman who is best known for serving as the Chief Executive Officer of Dollar General has a net worth of around $90 million. He makes millions of dollars annually from his profession. As a high ranking executive, Mr. Vasos brings in a handsome compensation package. As of 2017, his total compensation amounted to $8.8 million. His annual salary is around $1.1 million. The rest is given as various types of options.
As of this writing, Todd Vasos owns 165,000 shares of the Dollar General Corporation and over the years, he has sold more than $14 million worth of shares. In 2019 alone he earned $12 million in total compensation. These figures put together are what make up Todd Vasos net worth. While he primarily earns from the Dollar General company these days, he made a reasonable income from heading positions in other companies such as Keycorp, Longs Drug Stores, Phar-Mor, and Eckerd Drug Company among others before joining Dollar General Corp.