Paula A. Price

Senior Lecturer of Business Administration

Paula A. Price was Executive Vice President & Chief Financial Officer of Ahold USA (then a $26B supermarket company in Quincy, Massachusetts) from May 2009 to January 2014.  She was responsible for Finance, Accounting and Shared Services; Strategy and Planning; Real Estate Development and Construction; Not-for-Resale Sourcing; and Information Technology.  She transformed the Finance function; delivered a $1 billion cost savings program to fund strategic growth initiatives; and led a team of over 1,000.  For these accomplishments, she has been recognized as “CFO of the Year” by the Boston Business Journal and featured in CFO magazine.   

Ms. Price’s career includes senior-level finance, general management and strategy roles based in New York, London and Chicago in retail (grocery and pharmacy), financial services, and consumer packaged goods industries.  Prior to joining Ahold in 2009 as Chief Financial Officer of Stop & Shop/Giant Landover, she was Senior Vice President, Controller and Chief Accounting Officer for CVS Caremark Corporation, and a key player in the $26 billion CVS Caremark merger deal.  Previously, she worked in the financial services industry at JP Morgan Chase and Prudential Insurance Co. of America; and in the consumer packaged goods industry at Diageo and Kraft Foods. She began her career in public accounting at Arthur Andersen & Co.

Ms. Price currently serves on the corporate boards of directors of Accenture plc (NYSE:ACN), Dollar General Corporation (NYSE:DG), and Western Digital Corporation (NASDAQ:WDC).  She is also a board director of Financial Guaranty Insurance Company, Blue Cross Blue Shield of Massachusetts, and Big Brothers Big Sisters of Massachusetts Bay; and on the board of overseers of the Museum of Fine Arts, Boston.  On these boards, she serves on the Audit, Finance, Healthcare, and Communications committees as applicable. Ms. Price was a board director of Charming Shoppes, Inc. (NASDAQ: CHRS) from March 2011 until it was sold, and a board trustee of Newton Wellesley Hospital.

Ms. Price earned her MBA in Finance and Strategy from University of Chicago Booth School; and her BSc in Accountancy from DePaul University.  She is a certified public accountant.  In addition, Ms. Price is a member of the Massachusetts Chapter of International Women’s Forum, American Institute of Certified Public Accountants, and National Association of Corporate Directors. 

Cases and Teaching Materials

  1. Dollar General Bids for Family Dollar

    Jonas Heese, Paula A. Price and Suraj Srinivasan

    In spring 2015, Dollar General CEO Rick Dreiling was looking ahead to retiring at year's end but worried about ensuring continued growth for the company he had built since 2008 into a market leader in the U.S. discount retail world. Dollar General operated over 11,500 stores in 40 states at the start of 2015, but had recently been rebuffed in a tender offer for its leading rival, Family Dollar. Though Dollar General had held talks with Family Dollar as early as 2013, Family Dollar shareholders chose to ignore Dollar General's more lucrative tender offer and the urging of several activist investors and sold their firm to the smaller Dollar Tree chain. Dreiling could not help but revisit some of the key decisions he and the rest of the board had made in their pursuit of Family Dollar. From a governance perspective, he was confident that the Dollar General board had fulfilled its duty to shareholders during the bidding process despite Family Dollar's decision to sell to Dollar Tree. From a strategic perspective, he wondered whether Family Dollar had been the right competitor to buy.

    Keywords: Dollar General; Family Dollar; Dollar Tree; antitrust; board of directors; corporate strategy; Activist Investors; Federal Trade Commission; Acquisition; Valuation; Retail Industry;

    Citation:

    Heese, Jonas, Paula A. Price, and Suraj Srinivasan. "Dollar General Bids for Family Dollar." Harvard Business School Teaching Note 116-052, April 2016. View Details
  2. Dollar General Bids for Family Dollar

    Jonas Heese, Paula A. Price, Suraj Srinivasan and David Lane

    In spring 2015, Dollar General's CEO Rick Dreiling was looking ahead to retiring at year's end but worried about ensuring continued growth for the company he had built since 2008 into a market leader in the U.S. discount retail world. Dollar General operated over 11,500 stores in 40 states at the start of 2015 but had recently been rebuffed in a tender offer for its leading rival, Family Dollar. Though Dollar General had held talks with Family Dollar as early as 2013, Family Dollar shareholders chose to ignore Dollar General's more lucrative tender offer and the urging of several activist investors and sold their firm to the smaller Dollar Tree chain. Dreiling could not help but revisit some of the key decisions he and the rest of the board had made in their pursuit of Family Dollar. From a governance perspective, he was confident that the Dollar General board had fulfilled its duty to shareholders during the bidding process despite Family Dollar's decision to sell to Dollar Tree. From a strategic perspective, he wondered whether Family Dollar had been the right competitor to buy.

    Keywords: Dollar General; Family Dollar; Dollar Tree; antitrust; board of directors; corporate strategy; Activist Investors; Federal Trade Commission; Acquisition; Valuation; Retail Industry; United States;

    Citation:

    Heese, Jonas, Paula A. Price, Suraj Srinivasan, and David Lane. "Dollar General Bids for Family Dollar." Harvard Business School Case 116-007, November 2015. (Revised April 2016.) View Details