- Push-out Score determined
- After about three years in the position
- Praise, thanks and good wishes for Handley
- Darren Rebelez taking over
- Handley said 68 words
(exechange) — Ankeny, Iowa, June 5, 2019 — Terry Handley, chief executive of Casey’s, leaves. As announced by Casey’s General Stores Inc. in a news release on Wednesday, June 5, 2019, Terry W. Handley leaves his post as Chief Executive Officer at the chain of pizza restaurants and convenience stores after about three years in the role, effective June 24, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.7 years, according to data compiled by exechange.
Terry Handley’s duties will be taken over by Darren M. Rebelez, currently President of IHOP Restaurants, a unit of Dine Brands Global Inc.
The fact that Terry Handley’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Impressive track record of driving performance and innovation”
A reason for Terry Handley’s imminent departure from the CEO post was not explicitly provided. H.Lynn Horak, Chairman of the Board, said: “Darren brings a remarkable combination of leadership experience in the convenience store, fuel and restaurant industries, and he has an impressive track record of driving performance and innovation.”
Precise information regarding Terry Handley’s future plans was not immediately available.
Casey’s said: “Mr. Rebelez will succeed Casey’s President and CEO Terry Handley, who will retire from the Company and Board, after a 38-year career with Casey’s.”
Share price increase since May 2016
The announcement follows an increase in Casey’s General Stores, Inc.’s share price of 18 percent since May 2016.
Chaired by H.Lynn Horak
Casey’s General Stores, Inc. is chaired by H.Lynn Horak.
In the position of CEO since 2016
Terry W. Handley has been the Chief Executive Officer of Casey’s General Stores, Inc. since May 1, 2016.
Handley’s bio reads as follows:
- President and CEO (2016-Present)
- President and COO (2014-2016)
- Senior VP – COO (2006-2014)
- Senior VP – Store Operations (2003-2006)
- Various operational and management positions (1981-2003)
Handley is a 37-year veteran of the Company, having held critical operational, marketing, executive and other leadership positions.
Over the years, he has been instrumental in the growth, development and culture of the Company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Casey’s and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 23.2019 ($).