Stewart’s Shops chief operating officer Chad Kiesow has been promoted to president of the family- and employee-owned convenience store chain.
The promotion marks the first time in the company’s 80-year history that Stewart’s has a president who is not part of the Dake family.
But the Dakes aren’t going anywhere.
Bill Dake, part of the second generation to lead the company, remains chairman and very involved in the business.
Meanwhile, his son, Gary Dake, is celebrating his 40th year at Stewart’s and also remains involved in day-to-day operations as chief executive officer. Gary had served as president since 2003.
Chad Kiesow’s promotion was effective on June 1.
“This transition is at least three years in the making and it is all about continuity,” said Gary Dake. “Chad has been an integral part of the business since he joined us more than three decades ago. He understands our bottom-up culture and our focus on taking care of our people and the communities we serve.”
Chad Kiesow joined Stewart’s in 1994 when the company acquired the Bonfare convenience store chain. He started his Stewart’s career managing the gas department and moved to vice president of facilities before his promotion to chief operating officer a little more than a year ago.
Kiesow has been involved in community and trade organizations, serving on the boards of the New York Association of Convenience Stores, the Saratoga Regional YMCA and Saratoga County Chamber of Commerce.
“It is an honor to take on more responsibilities with the company. But this is not a sign of big changes,” Kiesow said. “I still have the same number of bosses that I had last week. The Dakes have never been shy and they are not the kind of leaders who will sit quietly on the sidelines.”
The management transition is occurring in conjunction with the Dake family’s decision last year to gradually sell their remaining shares in the business to the employees. The ownership transition will occur over the next 15 to 20 years.
“One of the things that makes Stewart’s so fortunate is our stability,” said Chairman Bill Dake. “That stability can be seen as it relates to our business, our leadership team and our commitment to supporting the communities where we do business.”
To illustrate that point, Stewart’s and the Dake family announced last month that they are increasing annual donations to charitable organizations from $9 million to $12 million.