Casey’s names IHOP president as new president and CEO busi
BUSINESS RECORD STAFF Jun 7, 2019 | 2:45 pm
2 min read time453 wordsAll Latest News, Iowa News, On the Move, Retail & Business
Casey’s General Stores has named a successor for President and CEO Terry Handley, who will retire from the company later this month after a 38-year career with the Ankeny-based convenience store company.
Casey’s board has elected Darren Rebelez, currently president of IHOP Restaurants, as president and CEO. Rebelez, who will be moving to Greater Des Moines, begins his new position June 23, which is also Handley’s retirement date. Rebelez will also be joining Casey’s board as Handley leaves the board.
Rebelez, 53, has been president of IHOP Restaurants, a unit of Glendale, Calif.-based Dine Brands Global Inc., since 2015. He has more than 25 years of business leadership experience focused on operations, marketing and merchandising for large corporations in the convenience store, fuel and restaurant industries.
“We are thrilled to welcome Darren to the Casey’s family,” said H. Lynn Horak, chairman of Casey’s. “Darren brings a remarkable combination of leadership experience in the convenience store, fuel and restaurant industries, and he has an impressive track record of driving performance and innovation.”
Horak continued: “On behalf of the board, I would like to thank Terry for his dedication and tremendous contributions to Casey’s over his nearly four decades with the company. The company has benefited greatly from Terry’s contributions over the years. We wish Terry many years of enjoyment and fulfillment in his retirement.”
Before joining Dine Brands, Rebelez was executive vice president and chief operating officer with 7-Eleven Inc., where he was employed for seven years. Earlier in his career, he held numerous management roles with ExxonMobil, and before that, Thornton Oil Corp.
“I am honored to join the Casey’s team at an exciting and dynamic time for both the company and the industry,” Rebelez said. “I have long admired Casey’s and look forward to working closely with its talented team to continue providing outstanding service to local communities across our markets and creating value for all of Casey’s stakeholders.”
According to an SEC filing, Rebelez will be paid a base salary of $950,000 with an annual target bonus of between 100% and 200% of that amount and an annual long-term incentive award of at least 275% of his base salary. He will also be paid a make-whole equity award from Casey’s to replace the estimated value of long-term incentive compensation that he will forfeit upon leaving Dine Brands that could total up to $5.7 million.
A veteran of the Persian Gulf War, Rebelez was an infantry officer in the U.S. Army. He has an MBA in international business from the University of Houston and a bachelor’s degree in Foreign Area Studies from the United States Military Academy at West Point.
To read a profile about Rebelez in Hispanic Executive magazine, click here.