Hannasch to Become Couche-Tard's President & CEO

LAVAL, Quebec -- Brian Hannasch will be promoted to the position of president and CEO at Alimentation Couche-Tard Inc. He will replace founder Alain Bouchard, who will become executive chairman of the board of directors.

The changes become effective beginning Sept. 24, the date of Couche-Tard's next annual shareholders' meeting.

Hannasch joined Couche-Tard in 2001, following its acquisition of the Bigfoot convenience store chain. He has served as chief operating officer of the parent of Circle K convenience stores since 2009. The Columbus, Ind., resident earned a master's of business administration from the University of Chicago in 1994.

"I accept this position with great pride. I am most humbled and excited," Hannasch said during a press conference today covered by CSNews Online. "Couche-Tard is a great ship and I assure you there will be no sudden change in direction."

According to Bouchard, discussions regarding a new CEO have taken place for the past two years with Couche-Tard's board of directors and Hannasch was always considered a top choice for the role.

The current CEO added he will be an active executive chairman and will serve as a mentor to Hannasch. "I will still be at the office on a daily basis," Bouchard said in the press conference.

Hannasch noted he will relocate to Couche-Tard's headquarters in Laval, Quebec, once his daughter attends college in the fall.

The responsibilities of chief operating officer will be shared by Couche-Tard's executive management team.

Alimentation Couche-Tard Inc. operates 6,221 c-stores throughout North America, including 4,724 stores with road transportation fuel dispensing. The retailer also operates 2,263 European stores across Scandinavia, Poland, the Baltics and Russia.