Dollar General's Turner exits amid investigation
Staff -- Home Textiles Today, 9/23/2002 12:00:00 AM
GOODLETTSVILLE, TN —
In the wake of a Securities and Exchange Commission investigation into accounting irregularities, Cal Turner Jr. has resigned as ceo of Dollar General.
Turner, whose father and grandfather founded the off-price retailer, had been ceo since 1977. Turner did not explain his decision but added he would remain in his position until a successor is found. He will also be part of the special committee that searches for a new ceo.
In January, after a 10-month investigation, Dollar General said its profits for fiscal 1998 to 2000 were overstated by about $100 million, and the company agreed to pay $162 million to settle related shareholder lawsuits.
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