SAN ANTONIO -- To clarify earlier reports, a spokesperson for convenience-store retailer Alimentation Couche-Tard Inc. said that CST Brands Inc. chairman, CEO and president Kim Lubel's role with the company that purchased the chain she has led for the past three years has not yet been determined.
Laval, Quebec-based Couche-Tard has agreed to buy CST—which has more than 2,000 c-stores in the Southwest United States, along with a presence in Texas, Georgia, the U.S. Southeast, New York and eastern Canada—for approximately $4.4 billion.
While Couche-Tard plans to create a new Circle K business unit based in San Antonio, where CST has its headquarters, “We haven’t established the transition team," global communications director Karen Romer told CSP Daily News. “Right now, what Kim is focusing on is running the business until the close and then making the transition as smooth as possible. Beyond that, we don’t have a committed plan.”
"Kim and her team are totally focused on running the company and delighting more customers every day," Romer said. "We anticipate that the transaction will close early in 2017, and there is much work to be done between now and then."
The San Antonio Express-News reported that Lubel will walk away from the deal with more than $19 million, while the top four execs at CST—including Lubel—collect more than $37 million.
Lubel has served as CST's CEO and president since January 2013. She has served as a member of the CST board since November 2012 and as chairman since April 2013.
CST spun off from San Antonio-based Valero Energy Corp. in 2013. Lubel served in various executive management roles at Valero, including as executive vice president and general counsel from April 2006 to November 2012, where she lead acquisitions and transactions and oversaw legal, environmental, health and safety; tax, government affairs; and project execution. She also served as vice president of legal services from January 2003 to April 2006 and managing counsel and vice president of legal services prior to January 2003.
Before joining Valero in 1997, Lubel specialized in mergers and acquisitions with the law firm of Kelly, Hart & Hallman from 1991 to 1997.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.