Howard R. Levine

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Howard R. Levine is the former Chairman of the Board and Chief Executive Officer of Family Dollar and is the son of Leon Levine, the Founder of Family Dollar.

Early life and education[edit]

Levine was born to a Jewish family,[1] ths son of Barbara (née Leven) and Leon Levine. He graduated from the University of North Carolina at Chapel Hill in 1981 with a Bachelor of Science degree.[2]

Career[edit]

After graduating from college, Levine worked in the Merchandising Department at Family Dollar, rising to the position of Senior Vice President-Merchandising and Advertising from 1981 to 1987. Thereafter, he served as President of Best Price Clothing Stores, Inc. from 1988 to 1992.[2]

From 1992 to 1996, Levine was self-employed as an investment manager.[3]

In 1996, Levine rejoined Family Dollar and served in various positions until he became Chief Executive Officer in August 1998.[4]

In July 2014, Levine oversaw the buyout of Family Dollar by Dollar Tree in a deal totaling $8.5 billion.[5] Levine will remain with the company following the merger and be appointed to Dollar Tree's board of directors.[6] Levine will step down as CEO on January 15, 2016.[7]

Compensation[edit]

While CEO of Family Dollar in 2009, Howard R. Levine earned a total compensation of $5,612,726, which included a base salary of $948,654, a cash bonus of $1,894,615, stocks granted of $1,338,224, and options granted of $1,308,528.[8]

Philanthropy[edit]

Levine established the Howard R. Levine Foundation, a donor-advised fund. As of 2015, it had $65 million in assets after a $45 million addition by Levine.[9]

In February 2017, Levine and his wife Julie donated $2 million to Providence Day school in Charlotte.[10] The couple made a $100,000 matching gift through the foundation to the Time Out Youth Center's capital campaign in May 2017.[11] Later in 2017, the foundation donated 500,000 to the Crisis Care Initiative.[12]

Personal life[edit]

He has two children with his first wife.[1] He is married to Dr. Julie Lerner Levine with whom he has two children.[13]

References[edit]

  1. ^ a b Perlmutt, David (June 21, 2011). "Howard Levine: A family man". Charlotte Observer.
  2. ^ a b Howard Levine Archived 2012-07-15 at Archive.today, Wall Street Journal
  3. ^ Howard R. Levine, Forbes.com.
  4. ^ Williams, Grace L. "Family Dollar CEO's $12 Million Sale". Retrieved 2017-10-12.
  5. ^ "Dollar Tree to buy Family Dollar to stave off competition". Reuters. July 28, 2014. Retrieved 2017-10-12.
  6. ^ "Charlotte region loses corporate headquarters in Family Dollar buyout". charlotteobserver. Retrieved 2017-10-12.
  7. ^ "Dollar Tree says Family Dollar CEO Howard Levine to quit". Reuters. 2016-01-08. Retrieved 2016-01-08.
  8. ^ 2009 CEO Compensation for Howard R. Levine, Equilar
  9. ^ "Howard Levine Adds $45 Million to Donor-Advised Fund". Retrieved 13 October 2017.
  10. ^ Price, Mark. "Howard Levine makes good on pledge, gives $2 million to Providence Day". Charlotte Observer. Retrieved 13 October 2017.
  11. ^ Marusak, Joe. "Levines make $100,000 matching gift challenge to Time Out Youth Center". Charlotte Observer. Retrieved 13 October 2017.
  12. ^ Price, Mark. "Howard Levine gives $500,000 to help CMS students in trauma at home". Charlotte Observer. Retrieved 13 October 2017.
  13. ^ "Howard R. Levine Foundation makes Foundational Gift of $500K to CIS-Charlotte's Crisis Care Initiative". Communities in Schools Charlotte-Mecklenburg. August 29, 2017.