Alimentation Couche-Tard has announced that Richard Fortin is stepping down as chief financial officer with immediate effect.

Fortin will continue to sit on the executive committee and, from 12 October, he will become chairman of the board, replacing Alain Bouchard who currently serves as chairman of the board, president and chief executive officer.

Bouchard will retain his position as president and CEO.

Replacing Fortin, Raymond Paré - currently VP, corporate finance and treasurer - will be promoted to the position of VP and CFO.

Commenting on the management shuffle, Bouchard noted that Paré's new role reflects the company's dedication to promote from within its own ranks.

"I am thrilled by this token of trust in my abilities. It was an honour to work alongside Mr. Fortin for so many years and I look forward to counting on his savvy advice in the future", Paré said.

Paré previously worked at Ernst & Young as a chartered accountant and then held several positions in financial and operational management at companies including JAC Canada/USA and at Bombardier.