ARKO Corp. Announces CFO Don Bassell Will Retire
10 January 2023 - 11:00PM
ARKO Corp. (NASDAQ: ARKO), a Fortune 500 company and one of the
largest convenience store operators in the United States, announced
today that Chief Financial Officer Don Bassell has informed the
Company of his intent to retire by the end of 2023, after 42 years
in the industry. Bassell is expected to remain as Chief Financial
Officer until his successor is in place and remain with the Company
until approximately April 2024 to assist with the transition
process and ensure continuity of operations. The Company plans to
promptly commence a process to identify a successor, considering
both internal and external candidates.
“In sixteen years with the Company, Don has been a tireless
leader and seasoned partner who helped ARKO grow, scale, and
innovate from a regional leader into one of the largest convenience
store operators in the country,” said Arie Kotler, ARKO’s chairman,
president and CEO. “As a leader, he has built a world-class finance
department with a deep bench of talent, while helping guide the
Company through over 20 acquisitions. As a colleague, his deep
knowledge of the industry has made him a trusted advisor to the
team and mentor to innumerable employees.”
“It has been an honor to work alongside our dynamic executive
team and employees to grow the Company into the leader it is today
through many significant milestones, from transformative growth to
inclusion on the Fortune 500 list,” said Bassell. “Building an
outstanding team has always been my priority, and I am confident
that we’ll have a smooth transition as the Company plans to deliver
growth and excellent results over many years to come.”
About ARKO Corp.
ARKO Corp. (Nasdaq: ARKO) is a Fortune 500 company that owns
100% of GPM Investments, LLC and is one of the largest operators of
convenience stores and wholesalers of fuel in the United States.
Based in Richmond, VA, our highly recognizable family of community
brands offers delicious, prepared foods, beer, snacks, candy, hot
and cold beverages, and multiple popular quick serve restaurant
brands. Our high value fas REWARDS® loyalty program offers
exclusive savings on merchandise and gas. We operate in four
reportable segments: retail, which includes convenience stores
selling fuel products and other merchandise to retail customers;
wholesale, which supplies fuel to independent dealers and
consignment agents; GPM Petroleum, which sells and supplies fuel to
our retail and wholesale sites; and fleet fueling, which includes
the operation of proprietary and third-party cardlock locations,
and the issuance of proprietary fuel cards that provide customers
access to a nationwide network of fueling sites. To learn more
about GPM stores, visit: www.gpminvestments.com. To learn more
about ARKO, visit: www.arkocorp.com.
Forward-Looking Statements
Certain matters discussed in this Current Report on Form 8-K
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are distinguished by use of words such
as “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intends,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “will,” “would” and
the negative of these terms, and similar references to future
periods. These forward-looking statements involve many risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Forward-looking
statements speak only as of the date the statements were made. The
Company does not undertake an obligation to update forward-looking
information, except to the extent required by applicable law.
Please refer to the publicly filed documents of the Company,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, for risks and uncertainties related to the
Company’s business which may affect the statements made in this
Current Report on Form 8-K.
Media ContactAndrew PetroMatter on behalf of
ARKO(978) 518-4531apetro@matternow.com
Investor ContactRoss ParmanARKO
Corp.investors@gpminvestments.com
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