(MATTHEWS) -- Family Dollar Stores, Inc. has named Michael K. Bloom to replace retiring R. James Kelly as President and Chief Operating Officer. Kelly is stepping down after 15 years with the Company. Bloom comes to the company after serving 20 years at CVS Caremark Corp., most recently as an executive vice president.

The Matthews-based discount retailer also promoted Dorlisa K. Flur to the position of Vice Chair, Strategy and Chief Administrative Officer. Both Mr. Bloom and Ms. Flur will report to Howard Levine, Chairman and CEO.

“Today’s announcement reflects the result of several years of thoughtful discussion and planning as we prepared for Jim’s retirement,” said Levine. “We are pursuing an ambitious growth agenda to expand our market share and drive greater financial returns, and these leadership changes ensure that we have a strong management team in place to execute our plans."