Brian Hannasch to retire and continue as a Special Advisor
LAVAL, QC, June 26, 2024 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Corporation") (TSX: ATD) Board of Directors is pleased to announce the appointment of Mr. Alex Miller as President and Chief Executive Officer effective September 6, 2024. Mr. Miller is presently the Chief Operating Officer for the Corporation. Mr. Brian Hannasch, the Corporation's current President and Chief Executive Officer will retire from that position and the Board and continue as a Special Advisor to both the new President and CEO and to Mr. Alain Bouchard, Founder and Executive Chairman of the Board.
"On behalf of the Board of Directors of Couche-Tard, I want to congratulate Alex Miller on his appointment to be our next leader," said Alain Bouchard. "Couche-Tard has only had two CEOs during its almost 45-year history, and we take this appointment extremely seriously. The Board and I have been planning for an orderly and seamless succession for several years, and we have carefully assessed the process and possible candidates. It is important to us that our next CEO comes from within the business and fully embraces our values, culture, and growth-oriented mindset. For those reasons, we have the utmost confidence that Alex is the best person to be our next President and CEO."
"Over the last year and a half, Alex has been Couche-Tard's Chief Operating Officer, and has been working closely with Brian Hannasch and the Board of Directors on transitioning to a future CEO position," continued Mr. Bouchard. "Prior to that, Alex was our Executive Vice President, North America Operations and Senior Vice President, Commercial Optimization, leading our global fuel and real estate businesses. He brings over 25 years of management experience in the retail fuel and convenience store industry, including nearly 13 years at Couche-Tard, and has proven himself to be an outstanding leader of the operational, financial, and people aspects of the business."
"I am humbled and honored by this appointment, and I want to thank Alain, Brian and the entire Board of Directors for their confidence," said Alex Miller. "Working with Couche-Tard – its Board of Directors, leadership, shareholders, team members and customers – has been the highlight of my career. I firmly believe that we are just at the beginning of our journey to become the world's preferred destination for convenience and mobility, and I have full faith that with our engaged people and culture and long-term strategic plan, we will continue our incredible growth trajectory as we take market share and create lasting value."
"Over the past ten years, Brian Hannasch has been a truly phenomenal CEO for Couche-Tard," added Alain Bouchard. "During his tenure, he has led the company in stunning growth, including a 400% increase in the company's share price and the acquisitions of nearly 7,800 stores, the successful completion of our ambitious Double Again strategy, and the launch of our new five-year plan. Brian has also successfully negotiated and led the company through game-changing and well-executed transactions, which is a rare feat in many industries. Perhaps most important to me, even as we have grown exponentially, he has fostered and deepened Couche-Tard's special culture. Brian always does the right thing for our people and customers, and he has my and the Board of Directors' deepest gratitude for all he has accomplished. We are truly pleased that he agreed to stay on as a Special Advisor."
"It has been the honor of a lifetime to be Couche-Tard's CEO for the past ten years and a leader of this company for the past 25," said Brian Hannasch. "I am so proud of the lasting value that we have created and the commitment and passion of our team members to serving our customers and communities. I know Couche-Tard is in great hands with Alex as he has been one of my closest business partners for well over a decade, and we are working as One Team during this transition period. I want to thank Alain and the Board of Directors for their enduring support and for the opportunity to continue serving Couche-Tard in a Special Advisory capacity."
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 31 countries and territories, with more than 16,700 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 149,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc., or to consult its audited annual Consolidated Financial Statements, unaudited interim condensed consolidated financial statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
Forward-Looking Statements:
Certain statements in this press release may constitute forward looking statements within the meaning of securities legislation, including those with respect to the transition period. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume" and other related expressions are used to identify such statements. Such statements are based upon the current beliefs and expectations of Couche-Tard and are subject to significant risks and uncertainties outside of Couche-Tard's control. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
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SOURCE Alimentation Couche-Tard Inc.
