As 2023 continues to be a busy year for executive changes around the convenience store industry, the top leaders at two of the largest players in the U.S. both saw substantial pay raises in fiscal 2023 compared to last year.
Brian Hannasch, president and CEO of Alimentation Couche-Tard, parent company of Circle K, saw his total compensation for fiscal 2023 come out to just over $18 million — far exceeding his fiscal 2022 earnings of about $11.2 million, according to Couche-Tard’s proxy statements.
Hannasch’s remuneration was officially announced during Couche-Tard’s annual shareholder meeting on Sept. 7. Hannasch — who became CEO of Couche-Tard in 2014 — was also re-elected to the company’s board of directors on Thursday, receiving the support of over 98% of shareholders.
Laval, Quebec-based Couche-Tard operates more than 5,700 c-stores in the U.S. It is the second-largest c-store company in North America behind 7-Eleven.
Meanwhile, Darren Rebelez, president and CEO of Casey’s General Stores, received just over $10.6 million in total fiscal 2023 compensation, exceeding his earnings from last year by about $1.6 million, according to the company’s 2023 proxy statement. Rebelez’s base salary for 2024 will increase by $50,000, to $1.2 million, according to the statement.
CEO pay across the fuel and c-store industries varied widely in 2022. On the high end, BP’s Bernard Looney brought in more than $12 million, while on the low end, CrossAmerica Partners’ Charles Nifong made just over $1.2 million.
Rebelez’s compensation, along with that of the rest of Casey’s named executive officers, was also announced during the convenience retailer’s shareholder meeting, which occurred on Sept. 6. Like Hannasch at Couche-Tard, Rebelez was also re-elected to Casey’s board during this meeting. Rebelez became CEO of Casey’s in 2019 and board chair this past June.
Ankeny, Iowa-based Casey’s operates more than 2,500 c-stores in 16 states.
