Howard Levine resigns from Dollar Tree’s board

Howard Levine has stepped down from Dollar Tree’s board of directors, effective immediately.

In a securities filing Friday afternoon, Dollar Tree said there are “no disagreements” between Levine and the company, which bought Matthews-based Family Dollar last summer. After the sale, Levine stayed on as Family Dollar’s CEO until resigning from the post in January.

Howard Levine had served as Family Dollar’s CEO since 1998, growing the discount chain’s footprint and revenues as other retailers struggled to stay afloat. Levine’s father, Leon, opened the first Family Dollar store in 1959 on Charlotte’s Central Avenue.

Levine’s retention letter with Dollar Tree in July 2014 called for him to stay and run Family Dollar for at least two years. But in January, when he stepped down, Dollar Tree said Levine had completed his role in assisting with the integration of Family Dollar.

The portion of the retention letter that restricted Levine from selling at most 500,000 shares during any five-trading-day period no longer applies because he no longer serves as an officer or director, according to the filing.

This story was originally published April 22, 2016 at 5:14 PM with the headline "Howard Levine resigns from Dollar Tree’s board."