CHESAPEAKE, Va. (WAVY) -- Dollar Tree battles to regain its footing after twists and turns of the past year put the company under a microscope, including the stepping down of its CEO. Dollar Tree CEO steps down, interim CEO appointed On Dec. 16, the Board of Directors for Dollar Tree have officially appointed Michael C. Creedon as the permanent CEO for the company. The future of the Chesapeake-based chain has faced uncertainty amid several changes in leaderships, staffing and political climate in the past year. In May, the company's headquarters in Chesapeake laid off employees in a planned tactic to incorporate a new business model featuring its Enterprise Contact Center. Dollar Tree initiates company layoffs at Chesapeake headquarters Family Dollar, a former rival chain that was acquired by Dollar Tree, is also experiencing dismal sales and expected to have almost 1,000 stores close in the next three years. Leadership changes further shook the company after former CEO Rick Dreiling stepped down, citing his health in November followed shortly by the resignation of Chief Financial Officer Jeff Davis on Dec. 5. Dollar Tree announces resignation of Chief Financial Officer After Dreiling stepped down, Creedon took his place acting as Interim CEO in November of 2024. Creedon was the former COO of Dollar Tree after taking up the position in 2022. The Board then formally made his role as CEO permanent on Dec. 19 in a public release. “It’s a privilege to lead Dollar Tree at such a pivotal time,” Creedon said, in a statement on Business Wire. “My focus will continue to be on delivering long-term value to our associates, customers, and shareholders as a company that is rooted in strong values and operational excellence. I am thrilled and humbled to step into this leadership role as we remain focused on unlocking the enterprise’s full potential." The "pivotal time" also comes at the heels of President-elect Donald Trump's threat to raise tariffs in Canada, China and Mexico. As a largely outsourced company, Dollar Tree said they are prepared to make certain changes if Trump's plan is enacted. Dollar Tree prepares to make changes amid Trump’s tariff plan Sitting at a base price of $1.25, a large portion of goods — around 40% of sales — are imported from China. The increased tariffs could mean raising prices, reducing products or removing items from the shelves.