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    Hannasch Officially Takes the Reins at Couche-Tard

    His transition to CEO took effect at annual shareholders meeting.

    By Angela Hanson, Convenience Store News
    Alain Bouchard (left) and Brian Hannasch.

    LAVAL, Quebec — Brian Hannasch formally accepted the role of president and CEO of Alimentation Couche-Tard Inc. Wednesday during the company's annual shareholders meeting. He replaces founder Alain Bouchard, who will now serve as executive chairman of the board of directors.

    An executive management team will share the responsibilities of chief operating officer as Hannasch leaves the position.

    Hannasch joined Couche-Tard in 2001 when it acquired the Bigfoot convenience store chain. He became chief operating officer in 2009. In his new role, he will continue to press Couche-Tard's agenda of seeking out different sizes of acquisition opportunities, but the company will reportedly avoid reckless growth.

    "Believe me, we were busy during the summer," Bouchard stated during a conference call earlier this month. "However, our discipline has served us well in the past, and we will stick to that. We don't feel that we need to overpay to continue creating significant value for our stakeholders."

    Couche-Tard's stock increased sharply by 63 percent through Tuesday in anticipation of Hannasch's official appointment, according to a Bloomberg report.

    During Wednesday's annual meeting, which took place at the Glenn Gould Studio in Toronto, Ontario, shareholders approved all candidates proposed for the board of directors, the retailer said. Nine other board members were elected in addition to Hannasch and Bouchard.

    Alimentation Couche-Tard Inc. operates 6,221 convenience 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.

    By Angela Hanson, Convenience Store News
    • About Angela Hanson Angela Hanson is associate editor for EnsembleIQ's Convenience Store News and Convenience Store News for the Single Store Owner, where she is responsible for primary coverage of the candy, snacks and packaged beverages categories. Since joining CSNews as assistant editor in early 2011, she has played a key role in helping CSNews.com maintain its position as the No. 1 news source for the convenience store industry. Prior to joining CSNews, Hanson served as junior editor at Creative Homeowner book press and as managing editor of Anime Insider magazine. She has degrees in creative writing and visual communication technology from Bowling Green State University.

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