Arko names new CFO

Arko has named Robert E. Giammatteo as its chief financial officer and executive vice president, according to a Thursday announcement from the Henrico County-based Fortune 500 company that is one of the nation’s largest convenience store operators and fuel wholesalers.

Giammatteo will start his new role on Jan. 2, 2024. He will also serve as CFO of Arko subsidiary GPM Investments. Giammatteo takes the place of retiring Arko CFO Don Bassell, who has spent 17 years with the company and will stay on until April 2024 to assist with the transition.

Giammatteo joins Arko from Pittsburgh-based grocery chain Giant Eagle, where he was executive vice president, CFO and chief transportation officer. Before that, he served nearly 15 years in executive finance roles with retailers Ascena Retail Group, which owns brands such as Lane Bryant, Ann Taylor and Loft, and VF Corp., which owns The North Face and Vans.

Giammatteo has a bachelor’s degree in mechanical engineering and a master’s degree in aeronautical engineering from the Massachusetts Institute of Technology, as well as an MBA from MIT’s Sloan School of Management. He also has a master’s degree in mechanical engineering from Rensselaer Polytechnic Institute.

“We expect that Robb’s leadership and incredibly relevant, multisegment retail experience will significantly benefit the Arko team,” Arko Chairman, President and CEO Arie Kotler said in a statement. “As our business grows and continues to expand, his expertise in finance, strategic leadership and transformational management will help us skillfully reach new levels of development and management as one of the leading public companies in the convenience store industry.”

Arko is the parent company of GPM Investments and brought in $72 million in net income in fiscal 2022, compared with $59.4 million the previous year. It has about 1,500 employees in Virginia and nearly 14,000 worldwide.