LAVAL, QC, Jan. 25, 2016 /CNW Telbec/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A/ATD.B) announces today the appointment of Mr. Claude Tessier as its Chief Financial Officer, with effect from January 28, 2016. Mr. Tessier is a retail industry veteran and joins us from Canadian grocer Sobeys Inc., where he was President of the IGA Operations Business Unit.
"I am excited to join the Couche-Tard family. Couche-Tard is one of the true success stories of Québec," says Mr. Tessier. "In addition to overseeing the financial, reporting and investor relations functions in Couche-Tard, I look forward to joining President and Chief Executive Officer Brian Hannasch in evaluating opportunities for further expansion under the new, global Circle K brand," Mr. Tessier continues. "I am thrilled at this opportunity to play a part in Couche-Tard's continuing strategic growth and reaching its goal to become the world's preferred destination for convenience and fuel."
Brian Hannasch, Couche-Tard's President and Chief Executive Officer, says, "Claude has deep experience in large retail businesses and understands the reality of lean, multi-site environments - including service station operations. He has a proven track record as the Head of Finance of a large, complex business and has experience with financing, acquisitions and capital markets in publicly traded companies. Claude is the ideal candidate to help Couche-Tard continue its strong growth and to continue adding shareholder value with us." Mr. Hannasch adds, "Claude's extensive and relevant experience, combined with his solid leadership skills, will be an excellent addition to our already strong team."
Claude Tessier joins Couche-Tard from Sobeys, where he has been President of the IGA Operations Business Unit since 2012. He joined IGA in 2003 as Vice President, Finance & Strategic Planning for Sobeys Québec. Prior to his position with IGA, Mr. Tessier gained more than 15 years' as senior financial leadership experience with Fly Furniture, Provigo and Costco, including in CFO and Vice President roles. He has also held management positions in Mallette International and PricewaterhouseCoopers (formerly Coopers & Lybrand).
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 retail in the Scandinavian and Baltic countries, with a significant presence in Poland.
As of October 11, 2015, Couche-Tard's network comprised 8,006 convenience stores throughout North America, including 6,579 stores offering road transportation fuel. Its North American network consists of 15 business units, including 11 in the United States covering 41 States and four in Canada covering all ten provinces. About 80,000 people are employed throughout its network and at its service offices in North America.
In Europe, Couche-Tard operates a broad retail network across Scandinavia (Norway, Sweden and Denmark), Poland, the Baltics (Estonia, Latvia and Lithuania) and Russia. As at October 11, 2015, it comprised 2,217 stores, 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 and chemicals. Couche-Tard operates key fuel terminals and fuel depots in six European countries. Including employees at Statoil branded franchise stations, about 19,000 people work in its retail network, terminals and service offices across Europe.
In addition, about 4,700 stores are operated by independent operators under the Circle K banner in 14 other countries or regions worldwide (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Japan, Macau, Malaysia, Mexico, the Philippines, the United Arab Emirates and Vietnam) which brings to more than 14,900 the number of sites in Couche-Tard's network.
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 "believe", "could", "should", "intend", "expect", "estimate", "assume" 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.
SOURCE Alimentation Couche-Tard Inc.
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