Dive Brief:
- Chuck Maggelet will retire as CEO of Maverik effective May 1, according to a video posted Thursday on the company’s YouTube page.
- Crystal Maggelet, chairman and CEO of Maverik’s parent company FJ Management, will be stepping into the CEO role temporarily while the company begins a “rigorous and robust” search for a full-time replacement, she said in the announcement.
- Chuck Maggelet oversaw Maverik’s acquisition of Kum & Go, a move that basically doubled the adventure-themed convenience retailer’s footprint overnight when it closed in August.
Dive Insight:
In Thursday’s announcement. Chuck Maggelet said the decision step down from his post at Maverik “was a truly challenging” one. He said he’s focused on finding more balance moving forward as he recently turned 60.
“I want to make sure I'm embracing new challenges and pushing myself to continue learning, growing and exploring,” he said.
In the video, which is aimed at Maverik workers, Crystal Maggelet noted that she and Chuck Maggelet are divorcing after more than 30 years.
“I tell you this because I consider our team members as family and I believe you have a right to know. Although we will face changes as businesses always do, I want to assure you that this will in no way change the ownership structure of Kum & Go, Maverik or FJ Management,” she said.
As interim CEO, Crystal Maggelet said she’ll play a “key role” in Maverik’s critical decision making, including working closely with its executive team in the months ahead to find its new leader.
“We will take our time to get it right because it's most important to make sure the next CEO is the right fit for our culture and our business,” she said.
She has been chairman and CEO of FJ Management since 2008, according to her LinkedIn bio.
Chuck Maggelet’s retirement follows a few other notable changes that have occurred to the combined company of Maverik and Kum & Go since the two merged last year. Kum & Go’s former CEO Tanner Krause left the Des Moines, Iowa-based retailer when the acquisition closed, and Maverik has since removed Kum & Go’s fresh food and mobile ordering platforms as it rebrands many of its locations around the U.S.
Maverik agreed to acquire Kum & Go in April 2023, and the deal closed last August. The Salt Lake City-based retailer operates more than 400 convenience stores in addition to over 400 Kum & Go locations across over a dozen Midwest and Western states
