Stewart's Shops Promotes Company Veteran to President
BALLSTON SPA, N.Y. — Stewart's Shops has a new leader, and for the first time, the company's president is not part of the Dake family.
The Ballston Spa-based convenience retailer promoted Chief Operating Officer (COO) Chad Kiesow to president of the family- and employee-owned convenience store chain.
Stewart's Shops traces its root back to 1945 when the Dake brothers purchased a small dairy and ice cream business in Ballston Spa. Today, Stewart's Shops operates 400-plus stores across New York and southern Vermont, according to the latest Convenience Store News Top 100 report.
Despite the change in leadership, members of the founding family will still be involved in the company. Bill Dake, part of the second generation to lead the company, remains chairman. His son, Gary Dake, is marking four decades at Stewart's and also remains involved in day-to-day operations as CEO, according to the company.
Gary Dake had served as president since 2003. Kiesow's promotion was effective on June 1.
"This transition is at least three years in the making and it is all about continuity," CEO Gary Dake said. "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."
Kiesow joined Stewart's Shops in 1994 when the company acquired the Bonfare convenience store chain. He started his Stewart's Shops career managing the gas department and moved to vice president of facilities before his promotion to COO 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 change follows the Dake family's decision to gradually shift ownership to the company's employee stock ownership plan over the next 20 years, as CSNews previously reported.
"One of the things that makes Stewart's so fortunate is our stability," Chairman Bill Dake said. "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."
Stewart's Shops and the Dake family announced last month that they are increasing annual donations to charitable organizations from $9 million to $12 million.