Arko CFO to retire this year

Arko Corp. Chief Financial Officer Don Bassell will retire by the end of 2023, the Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC announced Tuesday.

“It has been an honor to work alongside our dynamic executive team and employees to grow the company into the leader it is today through many significant milestones, from transformative growth to inclusion on the Fortune 500 list,” Bassell said in a statement.

Bassell has been Arko’s CFO since its merger with Haymaker Acquisition Corp. II closed on Dec. 22, 2020. He has served as CFO of GPM since April 2014 and previously served as its CFO from January 2004 to December 2010. From December 2010 to February 2014, he was CFO of Mid-Atlantic Convenience Stores LLC.

Bassell will remain as chief financial officer until his successor is in place, and he will stay with the company until approximately April 2024 to help with the transition.

“In 16 years with the company, Don has been a tireless leader and seasoned partner who helped Arko grow, scale and innovate from a regional leader into one of the largest convenience store operators in the country,” Arie Kotler, Arko’s chairman, president and CEO, said in a statement. “As a leader, he has built a world-class finance department with a deep bench of talent, while helping guide the company through over 20 acquisitions.”

Arko Corp. made the Fortune 500 list for the first time in 2022, ranking No. 498. The company has more than 11,000 employees across 3,000 locations and has completed 22 acquisitions since 2013. In 2021, Arko reported a net income of $59.4 million.