The Dollar General’s former chief executive has been brought back to try to revive the company’s struggling operations.

A discount chain announced on Thursday that Todd Vasos has been reinstated as CEO, replacing Jeff Owen. The role had previously been held by Vasos for seven years before he retired in 2022.

According to the company, the replacement is effective immediately. During Owen’s tenure as CEO, he lasted less than a year.

In a statement, Michael Calbert, chair of Dollar General’s board of directors, said that a change in leadership is needed to restore stability and confidence in the company moving forward.

In after-hours trading Thursday, Dollar General’s shares surged following the announcement, which has been under pressure all year.

Since Owen took over Dollar General last November, the company has experienced slowing growth. In August, the company cut its sales and profit forecasts for the year, blaming weaker consumer spending and an increase in theft. The chain’s workers also protested federal safety violations and violent incidents earlier this year.

Discount chain’s downtrend may have also been influenced by external economic factors.

In an interview with GlobalData, Neil Saunders, retail analyst and managing director, said Dollar General’s slowdown was partially due to higher living costs.

There was a protest earlier this year by Dollar General workers protesting unsafe working conditions. Stocks of the retailer have fallen nearly 60% since the beginning of the year.