08:24 AM EST, 02/03/2025 (MT Newswires) -- Ollie's Bargain Outlet (OLLI) said Monday it has named Eric van der Valk as its president and chief executive officer, effective Feb. 2.

Van der Valk, who has also been added to the company's board of directors, succeeds John Swygert, who has transitioned to the role of executive chairman, the discount store company said.

Swygert will continue collaborating with van der Valk as part of the leadership succession plan unveiled in June 2024, Ollie's said.

Shares were over 4% lower in recent premarket activity.