ATD.A, ATD.B / TSX
LAVAL, QC, Sept. 2 /CNW Telbec/ - Alimentation Couche-Tard Inc. announces
that, upon 25 years of collaboration and loyal services, Mr. Richard Fortin is
stepping down as Chief Financial Officer effective today and will continue to
sit on the Executive Committee. Effective October 12, 2008, he will become
Chairman of the Board of the Company. Mr. Alain Bouchard, currently acting as
Chairman of the Board, President and Chief Executive Officer shall retain the
latter position as President and CEO. Mr. Raymond Paré, currently Vice
President, Corporate Finance and Treasurer, will be promoted to the position
of Vice President and Chief Financial Officer.
"I carefully weighed and prepared this change which meets two key
objectives: I will be free to devote more time to personal ventures while
continuing to actively contribute to the Company's strategic direction ranging
from development to financials", declared Richard Fortin, Executive Vice
President and Chief Financial Officer.
"We are delighted that Mr. Fortin agreed to remain in an active capacity
as Chairman while also continuing to sit on the Executive Committee. As a
result, we can still tap into his tremendous experience and knowledge of the
convenience industry", said Alain Bouchard, Chairman of the Board and CEO.
Mr. Bouchard also noted that Mr. Raymond Paré's new role underscores the
Company's dedication to promote talents within its own ranks when possible and
to ensure a seamless transition as the Company continues to grow. Mr. Paré
joined Couche-Tard five years ago and has since been working closely with
Mr. Fortin on all major company initiatives. More recently, Mr. Paré
successfully headed a number of key projects, namely by monetizing certain
property holdings and increasing the Company's credit facilities which he had
previously obtained. Regarded as a highly skilled manager, he built his
reputation by focusing on flawless execution and delivering results. Under
Mr. Paré's lead, our discipline and financial strength will remain intact.
"I am thrilled by this token of trust in my abilities. It was an honor to
work alongside Mr. Fortin for so many years and I look forward to counting on
his savvy advice in the future", said Mr. Paré.
Mr. Raymond Paré began his professional career at Ernst & Young as a
Chartered Accountant and thereafter held several positions in financial and
operational management, amongst other companies; at JAC Canada / USA Inc. and
at Bombardier Inc., in the Aerospace Division. Mr. Paré graduated in 2007 with
a MBA for management in Financing and a B.A. in Accounting in 1992 from the
Université du Québec à Montréal, and he officially became a Chartered
Accountant in 1994.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience
store industry. In North America, Couche-Tard is the second largest
independent convenience store operator (whether integrated with a petroleum
company or not) in terms of number of stores. Couche-Tard currently operates a
network of 5,395 convenience stores, 3,556 of which include motor fuel
dispensing, located in 11 large geographic markets, including eight in the
United States covering 33 states and three in Canada covering ten provinces.
More than 46,000 people are employed throughout Couche-Tard's retail
convenience network and service centers.
The statements set forth in this press release, which describes
Couche-Tard's objectives, projections, estimates, expectations or forecasts,
may constitute forward-looking statements within the meaning of securities
legislation. Positive or negative verbs such as "plan", "evaluate",
"estimate", "believe" and other related expressions are used to identify such
statements. 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 or underlying these statements, or could have an impact on the
degree of realization of a particular projection. Major factors that may lead
to a material difference between Couche-Tard's actual results and the
projections or expectations set forth in the forward-looking statements
include the effects of the integration of acquired businesses and the ability
to achieve projected synergies, fluctuations in margins on motor fuel sales,
competition in the convenience store and retail motor fuel industries,
exchange rate variations, and such other risks as described in detail from
time to time in the reports filed by Couche-Tard with securities authorities
in Canada and the United States. 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.
For further information:
For further information: Alain Bouchard, Chairman of the Board,
President and Chief Executive Officer; Richard Fortin, Executive
Vice-President and Chief Financial Officer, (450) 662-3272,