Handley also mentioned corporate board and governance initiatives.
Casey's recently appointed three new independent directors and named independent director H. Lynn Horak the new chairman of the board.
In an additional update, Handley said that Iowa Gov. Kim Reynolds (R) signed into law a bill that will allow boards of Iowa companies such as Casey's to declassify. A declassified board, allowing for annual elections rather than staggered elections, is designed to increase diversity and to increase accountability and responsiveness to shareholders.
“We were supportive of this change, and based on the structure of the new law, we will have a declassified board by our annual meeting in 2020. We will continue to engage our shareholders and strive to evolve our government structures to meet current best practices. This work is critical to our success,” he said.
Casey’s General Stores, based in Ankeny, Iowa, owns and operates a chain of 2,074 convenience stores spanning 16 states. The chain ranked No. 4 in a year-end update of CSP’s 2017 Top 202 list of the largest c-store chains in the United States.
Photo courtesy of Corey Coyle.