The company is now looking for a replacement of Kelly's former position. Kelly will continue to serve as Chief Financial Officer until the position is filled. Kelly will be responsible for overseeing all business operations of the company, including store operations, merchandising, real estate, supply chain and technology functions.

Howard R. Levine, Family Dollar chairman and CEO, says Kelly is fitting for the role, saying he "has contributed significantly to the company's success, providing strong leadership and strategic and operational vision." Levine goes on to say that "In order for Family Dollar to achieve its significant growth potential, we must continue to develop both our strategy and our management. This new organizational structure will enable me to focus more on directing our strategic agenda."

In June, the chain of discount stores said it planned to open 100 to 120 new locations during the fourth quarter as it continues an expansion that is producing higher sales and earnings. amily Dollar operates more than 6,000 stores in a 44-state area ranging from Idaho to Maine, southeast to Florida, and southwest to Arizona.