Canadian multi-national convenience store chain Alimentation Couche-Tard has appointed Alex Miller as president and CEO.
The move is effective as of September 6, and it will see Miller replace the outgoing Brian Hannasch, who will stay on in an advisory capacity.
Miller is currently the convenience giant’s chief operating officer. A former VP of strategy for BP, Miller brings more than 25 years of management experience in the retail fuel and convenience store industry, including nearly 13 years at Couche-Tard.
“Couche-Tard has only had two CEOs during its almost 45-year history, and we take this appointment extremely seriously,” says Alain Bouchard, founder and executive chairman of the board of the Laval-based company, which operates nearly 17,000 stores spanning 31 countries and territories.
Bouchard says that outgoing CEO Brian Hannasch has been a “truly phenomenal” CEO for Couche-Tard for a decade.
“During his tenure, he has led the company in stunning growth, including a 400% increase in the company’s share price and the acquisitions of nearly 7,800 stores,” Bouchard says.
On Tuesday, Alimentation Couche-Tard saw its Q4 earnings tumble, with net earnings of $453 million in the quarter down from $670.7 million in the same period last year.
Same-store merch revenue, meanwhile, fell 3.4% in Canada, while same-store road transportation fuel volumes decreased 3.5% in the market.
The company reports that it has been working to expand its recently-launched Inner Circle loyalty program – a U.S. program which currently has more than 6.3 million fully enrolled customers receiving personalized fuel and convenience offers. It also promised to launch a summer drink promotion to drive foot traffic in store, and to bolster its employee training.