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Casey's Names New CEO

Lamb remains as chairman of executive committee, board; Myers takes chief exec spot

ANKENY, Iowa -- Like the consistent promote-from-within philosophy it has always had, Casey's General Stores Inc. moved its president and COO, Robert J. Myers, into the CEO position on Wednesday as previous CEO Ronald Lamb prepares for his eventual exit from the Ankeny, Iowa-based convenience store company.

We've had a leadership committee in place for about eight months or so, senior vice president and CFO William Walljasper told CSP Daily News. It was Ron that put that leadership committee together, and basically the task of that committee was to evaluate [image-nocss] the appropriate process and personnel for the next transitional move. We wanted to make sure we had a smooth transition as Ron starts to look at [retiring].

Walljasper said the company went through a similar process 10 years ago when Lamb took the first step toward succeeding Don Lamberti, who retired in 2003. Now, Lamb will continue to serve as chairman of the executive committee and will remain chairman of the board.

"Now is a good time to make the transition," said Lamb, "because our management team has never been stronger. Bob is an established leader and a natural fit for the CEO position." Lamb has not announced plans to retire from the company completely.

Myers, 59, has been president and COO of Casey's since June 2004. He joined the company in 1989 and has been part of its senior management team throughout his tenure. Lamb, 70, has 37 years of industry experience and has been CEO since 1996. He will remain actively involved in setting the strategic direction for Casey's.

The board approved the nomination of Myers to stand for election to the board at the annual meeting of shareholders, scheduled for Friday, Sept. 15, 2006, to fill a seat currently held by John G. Harmon, senior vice president and secretary of Casey's. All other current board members have been nominated to stand for election for another one-year term.

The board approved other promotions, also effective June 21:

Terry W. Handley was elected COO to succeed Myers. Handley, 46, joined Casey's in 1981 and has senior leadership experience within numerous areas of the company. He has been senior vice president of store operations since June 2004. William J. Walljasper was promoted to senior vice president and CFO. Walljasper, 41, previously was vice president and CFO and has been with the company since 1990. Sam J. Billmeyer was promoted to senior vice president of transportation and support operations. Billmeyer, 49, previously was vice president of transportation and has been with the company since 1991. Robert C. Ford was promoted to vice president of store operations. Ford, 48, previously was director of store operations and has been with the company since 1979.

Casey's General Stores owns and operates nearly 1,400 convenience stores in nine Midwestern statesIowa, Illinois, Indiana, Kansas, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin.

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