Alimentation Couche-Tard will have a new leader for the start of the school year. The current chief operating officer of the Laval convenience store chain, Alex Miller, will replace Brian Hannasch as CEO in September.
Alex Miller joined Couche-Tard in 2012, first as Director of Fuels, Real Estate and Facilities before moving up the ranks in the company.
“Couche-Tard has only had two CEOs in its nearly 45-year history, and we take this appointment extremely seriously,” comments Alain Bouchard, co-founder and executive chairman of the board of directors of Couche-Tard. Couche-Tard.
Brian Hannasch is preparing to retire and will therefore leave his position as president and CEO as well as the board of directors. He succeeded Alain Bouchard as CEO in 2014. He will act as special advisor to Alex Miller and Alain Bouchard.
Alain Bouchard emphasizes that Brian Hannasch has been a “truly phenomenal” CEO for Couche-Tard.
“During his tenure, he led the company to breathtaking growth, including a 400% share price increase and acquisition of 7,800 stores, the successful execution of our ambitious “Double Again” strategy and the launch of our new five-year plan. Brian also successfully negotiated and led the company through groundbreaking and well-executed transactions, which is a rare feat in many industries. »
Before joining Couche-Tard a dozen years ago, Alex Miller previously worked at BP, where for 16 years he held various roles related to operations, procurement, business development and strategy in the United States and Europe.
The change at the head of the company was announced after the unveiling the day before of mixed financial performance at the end of the year.
Notably, adjusted earnings per share for the months of February, March and April amounted to 48 US cents, while analysts expected 51 US cents.
“There is no doubt that this quarter has been challenging, with persistent inflation and continued pressure on consumers to carefully monitor their spending,” comments outgoing CEO Brian Hannasch.
“However, we remain very optimistic about our business. Despite recent declines in same-store sales, they have generally seen consistent growth globally over the past two years. »
In a note sent to his clients Tuesday evening, analyst Martin Landry, of the firm Stifel/GMP, said he continues to believe that Couche-Tard is gaining market share in a difficult environment on the American market, particularly in the face of 7 -Eleven.
