LAVAL, QC, March 18, 2014 /CNW Telbec/ - Alimentation Couche-Tard Inc.
(« Couche-Tard ») (TSX: ATD.A ATD.B) announces today that corporation
founder Mr. Alain Bouchard, has decided to take a new role as Founder
and Executive Chairman of the Board of Directors starting September 24,
2014, the date of the next Couche-Tard shareholders' annual meeting. At
the same time, Couche-Tard's Chief Operating Officer, Mr. Brian
Hannasch, will be promoted to the position of President and Chief
"Mr. Bouchard has been a remarkable leader. He is a pioneer in the
convenience store industry and has taken Couche-Tard from a single
store to a worldwide network of over 12,600 stores and 80,000 people,"
said Mr. Réal Plourde, Chairman of the Board of Directors of
Couche-Tard. "The Board is grateful for his innumerable contributions
to Couche-Tard in his distinguished tenure as President and CEO. We are
pleased that he will pursue his journey in a new role as Founder and
Executive Chairman of the Board of Directors, where he will continue to
play an active role in Couche-Tard's growth and development," added Mr.
"I have had the privilege of realizing a life-long dream," said Mr.
Bouchard, "Of developing, together with extremely talented colleagues,
a great, global convenience store and fuel chain we can all be proud
of. Now, after more than three decades as President and CEO, it's time
to continue my journey with Couche-Tard from a new perspective. I see
this change as an evolution. It will let me invest more of my time in
acquisitions and new industry opportunities. I will still be at the
office on a daily basis, will take part in the results review every
four weeks and the budgeting process. I will also take part in the
strategic discussions and serve as a mentor and coach to our next
generation of leaders."
"We have an amazing senior leadership team, and Brian is the right
person to lead it. He has been intimately involved in developing our
strategy, improving our business and he has played a pivotal role in
the material acquisitions we made over the last thirteen years,
including our largest and most recent, Statoil Fuel & Retail in Europe. His decisive leadership, his management skills and his deep
experience across the entire value chain of our business uniquely
qualify him to step into this role. He is well-respected across our
industry, he inspires our people, and he embodies Couche-Tard's core
values." added Mr. Bouchard.
"I am both humbled and excited by the opportunity to lead Couche-Tard,"
said Mr. Hannasch, "particularly in a landscape that offers both
challenges and unprecedented opportunities. We will stand firm by the
DNA that has made Couche-Tard what it is today, and continue to act
decisively to maintain our strong competitive position." He concluded
"I look forward to building on Alain's legacy and, together with our
talented, committed, skilled and experienced people, from the shop
floor to the boardroom, to taking Couche-Tard to even greater heights."
The responsibilities of Chief Operating Officer will be shared by
Couche-Tard's executive management team.
About Brian Hannasch
Brian Hannasch joined Couche-Tard in 2001 as part of the acquisition of
Midwest US convenience chain Bigfoot - Couche-Tard's first step into U.S. territory. He quickly moved from
Vice President Operations Midwest division to become Vice President
Integration and then Senior Vice President North America, before being
promoted to his current role of Chief Operating Officer in 2010. Mr.
Hannasch has played an active role in the steady growth of Couche-Tard
from 1,300 stores and 11,000 people in 2003 to its current 12,600
stores and approximately 80,000 people worldwide.
About Alimentation Couche-Tard Inc.
Couche-Tard is the leader in the Canadian convenience store industry. In
the United States, it is the largest independent convenience store
operator in terms of number of company-operated stores. In Europe,
Couche-Tard is a leader in convenience store and road transportation
fuel in Scandinavian countries and in the Baltic States while it has a
growing presence in Poland.
As of February 2, 2014, Couche-Tard's network comprises 6,221
convenience stores throughout North America, including 4,724 stores
with road transportation fuel dispensing. Its North-American network
consists of 13 business units, including nine in the United States
covering 38 states and the District of Columbia and four in Canada
covering all ten provinces. More than 60,000 people are employed
throughout its network and at the service offices in North America.
In Europe, Couche-Tard operates a broad retail network across
Scandinavia (Norway, Sweden, Denmark), Poland, the Baltics (Estonia,
Latvia, Lithuania) and Russia with 2,263 stores as at February 2, 2014,
the majority of which offer road transportation fuel and convenience
products while the others are unmanned automated service-stations which
offer road transportation fuel only. The Corporation also offers other
products, including stationary energy, marine fuel, aviation fuel,
lubricants and chemicals. Couche-Tard operates key fuel terminals and
fuel depots in eight countries. Including employees at Statoil branded
franchise stations, about 18,000 people work in its retail network,
terminals and service offices across Europe.
In addition, under licensing agreements, about 4,200 stores are operated
under the Circle K banner in ten other countries worldwide (China, Guam, Honduras, Hong
Kong, Indonesia, Japan, Macau, Mexico, Vietnam and United Arab
Emirates) which brings to more than 12,600 the number of sites in
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", "expect" and other related
expressions are used to identify such statements. Couche-Tard would
like to point out that, by their very natures, 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 projections. 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
Image with caption: "Mr. Alain Bouchard, President and Chief Executive Officer with the Chief Operating Officer, Mr. Brian Hannasch (CNW Group/Alimentation Couche-Tard Inc.)". Image available at: http://photos.newswire.ca/images/download/20140318_C5618_PHOTO_EN_38048.jpg
SOURCE: Alimentation Couche-Tard Inc.
For further information:
Alimentation Couche-Tard Executive Office
Tel: (450) 662-6632 ext. 4602