Couche-Tard chief executive Alain Bouchard has announced he will stand down as CEO of the Canadian retailer and take up a new role of executive chairman.

Bouchard will be replaced by COO Brian Hannasch, who will take over as president and CEO on 24 September.

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Commenting on the move, Bouchard emphasised Hannasch’s experience within the Couche-Tard organisation. “He has been intimately involved in developing our strategy, improving our business and he has played a pivotal role in the material acquisitions we made over the last thirteen years, including our largest and most recent, Statoil Fuel & Retail in Europe,” Bouchard said.

Réal Plourde, chairman of Couche-Tard’s board, said Bouchard will continue to “play an active role” in Couche-Tard’s development.

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

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