Dollar General has named Wilmington native Todd Vasos as its new chief executive officer, the company announced Thursday. Vasos will assume the position in June, according to a news release.

Formerly the chief operating officer at the Goodlettsville, Tennessee-based corporation, Vasos was elected to the position by the retailer’s board of governors. He will become the ninth member of the board of directors.

Vasos will replace former chairman and CEO Rick Dreiling, who had previously announced plans to retire. Dreiling will stay on as chairman of the board and advisor until early 2016.

Vasos graduated from Hoggard High School in Wilmington in 1979 and earned a bachelor’s degree in marketing from Western Carolina University in 1984. He still has numerous family members in the Wilmington area, including his mother, siblings and daughters, according to a company spokeswoman.

Vasos still visits Wilmington frequently and has a vacation home in the area.

He joined Dollar General in 2008 as chief merchandising officer. Prior to his work with Dollar General, he worked for Longs Drug Stores, which is now owned by CVS Pharmacy, Phar-Mor and Eckerd Corp.

After Vasos graduated from WCU, he began his career in the retail industry starting as an assistant manager at an Eckerd Drugs in Wilmington, said Crystal Ghassemi, spokeswoman with Dollar General. From there, she said, Vasos worked his way to becoming store manager and eventually a district manager for Eckerd Corp.

“Todd is a proven leader and the right person to guide Dollar General as it enters this next chapter in the company’s history,” Mike Calbert, lead director at Dollar General, said in the release. “With Todd’s appointment as CEO, and Rick’s continued service, we ensure the continuation of both the leadership and strategy that have made Dollar General a retail powerhouse.”

Last year, Dollar General, which has nearly 12,000 stores in 43 states, attempted to do a hostile takeover of rival Family Dollar. That takeover was rejected in favor of a deal that combined Family Dollar with fellow discount retailer Dollar Tree.

Vasos said he was looking forward to stepping into the position and continuing the work of Dreiling.

“Under Rick’s leadership, we have delivered exceptional results,” Vasos said in the release. “My commitment is to build on that success. I believe Dollar General has an exciting future ahead and look forward to continuing to work with our talented employees to provide our customers with the everyday low prices that they count on from Dollar General.”