CHESAPEAKE, Va. (WAVY) — Dollar Tree, Inc. has announced the resignation of Chief Financial Officer Jeff Davis.

The national chain is headquartered in Chesapeake and has recently gone through some financial struggles and leadership changes, including the company’s previous CEO Rick Dreiling stepping down in November. Mike Creedon now serves as interim CEO.

Dollar Tree also issued company layoffs at its Chesapeake headquarters.

“Our Dollar Tree and Family Dollar merchandising efforts produced tangible results, and our third quarter sales came in at the high-end of our expected range,” said Mike Creedon, Interim Chief Executive Officer. “As an organization, our top priorities remain accelerating the growth of the Dollar Tree segment, completing the Family Dollar strategic review process, and unlocking value for Dollar Tree shareholders.”

The company is searching for a replacement to ensure a smooth transition, Davis has agreed to remain with the company through the filing of its fiscal 2024 Form 10-K.

“We thank Jeff for his service and appreciate the contributions he made to the business during his time with Dollar Tree and Family Dollar. We remain committed to our business strategy and are focused on driving lasting value for our customers and shareholders,” Creedon added.

The company also announced they are ready to make certain changes amid President-elect Donald Trump’s tariff plan.

The company announced that prices may have to increase if Trump taxes imported goods, and may take products off the shelves if they become too expensive.