07:47 AM EDT, 06/26/2024 (MT Newswires) -- Alimentation Couche-Tard ( ANCTF ) on Wednesday said it appointed Alex Miller as president and chief executive officer effective.

Miller, who is presently chief operating officer, will take up his new position on Sept. 6. Brian Hannasch, the current p-resident and CEO, is retiring, but will continue as a special advisor to the company.

This appointment comes after Couche-Tard late Tuesday reported a drop in fiscal fourth-quarter earnings that missed forecast.

Adjusted earnings, which excludes most one-time items. fell 32% to US$461 million, or US$0.48 per share, in the quarter ended April 28, down from US$698 million, or US$0.71 per share in the year-prior period.

The result missed the consensus Capital IQ forecast for an adjusted profit per share of US$0.50.

The company increased its annual dividend for fiscal 2024 by 26%, to $0.6650 from $0.53.

Couche-Tard shares yesterday closed up 1.4% to $79.50 on the Toronto Stock Exchange.