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Dollarama’s operations chief to head U.S. discount retailer

Customes shop at the Dollarama store on Spadina Avenue in Toronto on June 13, 2012.

Deborah Baic/The Globe and Mail

Dollarama Inc. says one of its top executives is leaving to become president and CEO of a California-based discount retailer, called 99-cents Only Stores.

Dollarama says Stephane Gonthier will remain with the Montreal-based company for a time to ensure a smooth transition.

Gonthier has been Dollarama's chief operating officer since 2007, a period of rapid and profitable growth for the Montreal-based company.

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His duties will be assumed on an interim basis by Dollarama's chairman and CEO, Larry Rossy.

Dollarama currently has more than 800 locations across Canada. It sells a variety of household goods, usually at between one and three dollars each.

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