The 430 unit Sheetz convenience store chain will have a new president and CEO with a familiar name in 2013.
The $6.3 billion company announced that Joe Sheetz, currently EVP of finance and store development, would become president and CEO and current president and CEO Stan Sheetz would assume the title of chairman. Current chairman Steve Sheetz fills a newly create position as the company's family council chairman. The changes take effect October 2013.
"While I am looking forward to serving the company in a new capacity, I am also extremely excited to see Joe takeover leadership as president and chief executive officer," said Stan Sheetz. "When his father Big Joe Sheetz passed away, Joe added the store development department to his responsibilities in finance, accounting and IT and has been doing a fantastic job! Joe is driven, bright and has the experience we need to help us write the next chapter of our company's history."
As a graduate of the Wharton School of Business at The University of Pennsylvania, Joe started at Sheetz in 1995 as director of personnel and became EVP of finance in 1996.
Stan Sheetz has been involved with the company on many levels his entire life and has served as president and CEO for the past 17 years.
The newly created family council position will allow Steve Sheetz to represent the Sheetz family shareholders in company related issues, while remaining as chairman of CLI Transport, Sheetz dedicated fuel carrier, and keeping his seat on the Sheetz board of directors.
"We always want to be sure the family has a strong role in the future of the company," said Steve Sheetz. "We'd like to ensure that Sheetz continues to be a family business. Bringing in a new generation of leadership is an exciting first step toward maintaining that legacy."
Founded in 1952, Sheetz operates 430 stores in the Pennsyvalnia, West Virginia, Maryland, Virginia, Ohio and North Carolina markets.