LAVAL, QC, Oct. 13, 2015 /CNW Telbec/ – Alimentation Couche-Tard Inc. (“Couche-Tard”) (TSX: ATD.A ATD.B) today announced that its Vice President and Chief Financial Officer, Raymond Paré, has resigned effective October 16, 2015.
Mr. Paré has indicated his intention to pursue other interests and to spend more time with his family. Couche-Tard's Board of Directors has accepted his resignation and wishes him success in his future endeavors. Couche-Tard has begun the process of identifying a successor and Mr. Paré will remain available to facilitate a smooth transition. In the meantime, financial and investor queries will be handled by Couche-Tard's President & CEO, Brian Hannasch.
“We thank Raymond for his contributions to the company over the past 13 years,” says Brian Hannasch. “He has been instrumental in the completion of milestone acquisitions including Statoil Fuel & Retail and The Pantry, reaching thousands more customers in dozens of new markets and multiplying our market value several times over, as well as laying the foundations for further growth with our new, global Circle K retail brand. We wish him well in his pursuit of new ventures.”
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 Scandinavia and the Baltic countries with a significant presence in Poland.
As of July 19, 2015, Couche-Tard's network comprised 7,987 convenience stores throughout North America, including 6,556 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 July 19, 2015, it comprised 2,229 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, lubricants and chemicals. Couche-Tard operates key fuel terminals and fuel depots in six 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 12 other countries or regions worldwide (China, 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.
For more information on Alimentation Couche-Tard Inc., please visit: http://corpo.couche-tard.com.
The statements set forth in this press release, which describe 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 “will”, “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 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 documents filed by Couche-Tard with securities regulatory authorities in Canada. 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 press release is based on information available as of the date of the release.
SOURCE Alimentation Couche-Tard Inc.