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UPDATE: Sheetz Shifting Joe Sheetz to President, CEO in 2013

Stan Sheetz to become chairman; Steve Sheetz to fill new position of "family council chairman"

ALTOONA, Pa. -- In a planned move that will take effect in October 2013, Joe S. Sheetz, executive vice president of finance and store development for Sheetz Inc., will advance into the position of president and CEO at the conclusion of the company's current fiscal year, the convenience retailer has announced.

And as reported earlier today in a Raymond James/CSP Daily News Flash, current president and CEO Stan Sheetz will move into the role of chairman, while Steve Sheetz will leave his chairman seat to fill a newly created position of family council chairman.

"While I am looking forward to serving the company in a new capacity, I am also extremely excited to see Joe takeover leadership as president and CEO," said Stan Sheetz. "When his father 'Big Joe' Sheetz passed away, Joe added the store development department to his responsibilities in finance, accounting and IT and has been doing a fantastic job. Joe is driven, bright and has the experience we need to help us write the next chapter of our company's history."

Joe M. Sheetz died in August 2006 (see Related Content below for previous CSP Daily News coverage).

As a graduate of the Wharton School of Business at The University of Pennsylvania, Joe S. Sheetz started at Sheetz in 1995 as director of personnel and became executive vice president of finance in 1996.

Stan Sheetz has been involved with the company on many levels his entire life, and has served as president and CEO for the past 17 years.

The newly created family council position will allow Steve Sheetz to represent the Sheetz family shareholders in company related issues, while remaining as chairman of CLI Transport, Sheetz dedicated fuel carrier, and keeping his seat on the Sheetz board of directors.

"We always want to be sure the family has a strong role in the future of the company," said Steve Sheetz. "We'd like to ensure that Sheetz continues to be a family business. Bringing in a new generation of leadership is an exciting first step toward maintaining that legacy."

Altoona, Pa.-based Sheetz operates more than 430 convenience locations throughout Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina. It provides a menu of Made-To-Order (MTO) subs, sandwiches and salads, which are ordered through touchscreen order point terminals. All Sheetz convenience stores are open 24 hours a day, 365 days a year.

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