Stewart’s Shops Announces New President

SARATOGA SPRINGS — For the first time in the company’s 80-year history, Stewart’s Shops will have a president who isn’t part of the Dake family.

Chief Operating Officer Chad Kiesow has been promoted to president of the popular Capital Region convenience store chain, the company announced Monday.

Despite appointing a non-Dake as president, the family that has owned Stewart’s since 1945 isn’t leaving the company. Bill Dake remains chairman of the organization, while his son Gary Dake remains involved in day-to-day operations as chief executive officer.

“This transition is at least three years in the making, and it is all about continuity,” Gary Dake said in a statement. “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 first 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.

“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 its 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.”