Chief executive officers of companies that specialize in both oil and convenience stores found their pockets full by the end of 2022. In fact, the four highest-paid CEOs among most publicly traded convenience retailers last year were from companies that focus on both segments, while convenience-only operators paid their chief executives anywhere from just over $1 million to north of $11 million.
But how much, exactly, did they all make?
The following list shows the total 2022 compensation for CEOs of most publicly traded c-store retailers with a presence in the U.S. Two of the retailers on this list — Arko Corp. and TravelCenters of America — are shown with their CEOs’ 2021 earnings, since those companies have yet to publish their 2022 results.
One sizable omission from the group is 7-Eleven. Although its parent company, Seven & i Holdings, is a publicly traded company, the Japanese retailer doesn’t list individual earnings of its executives in its investor reports. Instead, it offers the total compensation for certain groups of executives, such as its internal board of directors, at once. Since the earnings for 7-Eleven’s CEO — Joseph DePinto — aren’t specifically mentioned, 7-Eleven was left off this list.
Here’s how the CEOs at some of the top publicly traded c-store retailers got paid in 2022, according to C-Store Dive’s analysis of Securities and Exchange Commission documents.
Bernard Looney
BP p.l.c.
$12,449,033
Bernard Looney, who became CEO of London-based BP in February 2020, earned over $12.4 million in 2022 (just over £10 million), which more than doubled his earnings of about $5.4 million from 2021 and $2.1 million from 2020, according to BP’s 2022 and 2021 20-F SEC filings. Looney’s improved earnings also came as BP experienced tremendous year-over-year growth, seeing its underlying replacement cost profit surge to $27.7 billion in 2022 from $12.8 billion in 2021.
Ezra Uzi Yemin / Avigal Soreq
Delek US Holdings
$12,440,898 / $6,335,764
Longtime Delek executive Ezra Uzi Yemin made over $12.4 million in 2022, which outpaced the $8.67 million and $6.77 million he earned in 2021 and 2020, respectively, according to Delek’s 2023 proxy statement. This came during a year in which Yemin led Delek for only six months, as he ended his nearly 20-year run as CEO in June 2022.
Yemin’s replacement as CEO, Avigal Soreq, earned over $6.3 million in 2022 after spending six months leading the company. Prior to being named CEO of Delek, Soreq was CEO of Israeli airline company Al Airlines.
Ben van Beurden
Shell plc
$11,995,000
Former Shell executive Ben van Beurden earned over $11.9 million in 2022, which was his final stretch of an eight-year run as CEO of the London-based retailer, according to Shell’s 2022 20-F SEC filing. His earnings in 2022 outpaced the $8.7 million he made in 2021. Wael Sawan, Shell’s former director of integrated gas, renewables and energy solutions, took over as CEO on Jan. 1.
Eric Slifka
Global Partners LP
$11,496,596
Global Partners’ longtime CEO Eric Slifka — who took over the position in 2005 — garnered over $11.4 million in 2022, far exceeding his 2021 and 2020 earnings of $6.5 million and $5.5 million, according to the retailer’s most recent 10-K SEC filing. A major difference between 2022 and the previous two years for Slifka was that he earned nearly $4 million extra in various “unit awards,” which didn’t apply to his earnings in either 2021 or 2020, according to the filing.
Brian Hannasch
Alimentation Couche-Tard
$11,268,195
Brian Hannasch’s $11.2 million made in 2022 marked the second year in a row Couche-Tard’s president and CEO saw a dip in his earnings, according to the company’s 2022 proxy statement. After earning $12.13 million in 2020, his earnings dropped to $11.81 million in 2021.
However, since becoming CEO in 2014, Hannasch’s yearly earnings have only dipped below $10 million twice — with his highest earnings coming in 2015, when he made $13.4 million, according to Couche-Tard’s 2017 proxy statement.
Andrew Clyde
Murphy USA
$10,357,375
By making over $10.3 million in 2022, Andrew Clyde’s total yearly earnings surpassed $10 million for the first time in his run as president and CEO of Murphy USA, according to the company’s 2023 proxy statement.
Clyde, who became CEO in 2013, has seen a steady increase in his earnings over the past few years, hitting $7.14 million in 2019, $8.24 million in 2020 and $8.64 million in 2021. Between 2014 and 2018, his highest single-year earnings was $6.2 million, which came in 2016, according to Murphy’s proxy statement for that year.
Darren Rebelez
Casey's General Stores
$9,061,083
Darren Rebelez, the former IHOP president who became Casey’s CEO in June 2019, made just over $9 million in 2022, good for his second-highest total during this three-year stretch at the company, according to Casey’s 2022 proxy statement. Rebelez made $11.3 million in 2020 — his first full year as CEO of Casey’s — and $8.19 million in 2021.
Jon Pertchik
TravelCenters of America
$7,278,620
Jon Pertchik took over as CEO of TravelCenters of America in December 2019. In 2020, his first full year with the company, he earned $3.74 million. The following year, he nearly doubled that amount, hitting over $7.2 million, according to the company’s April 2022 proxy statement.
While Pertchik’s 2022 total compensation isn’t yet available, the executive has the potential to bring in over $21 million as part of an executive compensation arrangement in connection with BP’s recent acquisition of TravelCenters of America, according to TA’s April 2023 proxy statement. Approval of this compensation can only pass via a majority vote from TA’s stockholders.
Arie Kotler
Arko Corp.
$6,375,923
Arie Kotler took over as president, chairman and CEO of Arko Corp. in December 2020 when the company merged with Haymaker Acquisition Corp. In his first full year at the helm, Kotler earned over $6.3 million, more than triple what he made in 2020 when he was only CEO of GPM Investments and Arko Holdings, according to Arko Corp.’s April 2022 proxy statement.
Kotler’s 2022 total compensation — along with that of the rest of Arko’s executives — will be filed and available after the company’s 2023 Annual Meeting of Stockholders later this year, according to the company’s 10-K report released in February.
Robert Espey
Parkland Corp.
$5,631,424
Robert Espey, president and CEO of Parkland Corp., earned over $5.6 million in 2022, outpacing the $4.96 million and $3.61 million he made in 2021 and 2020, respectively, according to the company’s 2023 annual report.
Between 2015 and 2019, Espey never earned more than $3.71 million in a given year. Although Espey has been CEO of Parkland since 2011, his yearly earnings prior to 2015 are not available via the company’s website.
Charles Nifong
CrossAmerica Partners
$1,200,490
Charles Nifong, president and CEO of CrossAmerica Partners, has seen small but steady increases in his total earnings since resuming his position in November 2019. His $1.2 million earned in 2022 outpaced his $1.17 million in 2021 and $1 million in 2020, according to CrossAmerica’s most recent 10-K SEC filing.