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Larry Rossy hands off CEO’s job at Dollarama to his son Neil as retailer hikes dividend on higher earnings

Members of Dollarama's executive management team, from left to right: Larry Rossy, Neil Rossy, Johanne Choinire (Chief Operating Officer) and Michael Ross (Chief Financial Officer).

MONTREAL – Continuing a household legacy that stretches back more than a century, Dollarama has named the son of their CEO to accept reins at Canada’s largest chain of discount stores.

Neil Rossy, Dollarama Inc.’s 46-year-old chief merchandising officer, will succeed his father, Larry Rossy, 73, at any given time when the Montreal-based clients are flying high, posting greater than expected earnings Wednesday, and forecasting more growth ahead.

“I’m excited to accept helm of the company that’s a part of my DNA,” Neil Rossy said on a conference call. 

Larry Rossy said he’s been focusing on a succession plan alongside the organization board for quite some time and can officially step down May 1. He has led the organization since 1973. “I was still being a young man then. I still am, but I think Neil is prepared so there’s no time like the oncoming of a brand new fiscal year to proceed by having an orderly transition,” he said.

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