The CFO of Casey’s General Stores, a little-known but major operator of convenience stores in the Midwest, will retire
Shares of the company slipped after the announcement, the second significant change in the company’s leadership ranks in less than a year following the naming of a new chief executive in 2019.
“I am humbled and honored to be part of Casey’s 52-year history and am proud of what we’ve accomplished,” Walljasper said in the company statement. “Looking ahead, I am focused on helping make this a seamless transition and I am excited for the opportunities that lie ahead for Casey’s and our team members.”
In an investor’s day presentation last month, Rebelez called Casey’s “perhaps one of the largest retail businesses in the United States that no one has ever heard of.” Part of that anonymity is due to the location of the majority of Casey’s storefronts in rural areas with populations of less than 5,000 people. The company operates in 16 Midwestern states.
Net income at Casey’s grew over 15% in eight out of the 13 fiscal years from 2004 to 2016, according to FactSet. Much of that growth was due to initiatives that include the expansion of delivery, the relocation of stores and the change of some store formats to 24-hour service, analysts said.
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