Viva Energy Shares Slide After Convenience CEO Resigns

Highlights:

• Viva Energy (ASX: VEA) stock falls nearly 8%, reaching a four-month low.
   
• Convenience and mobility chief Jevan Bouzo steps down after leading major acquisitions.
   
• Jennifer Gray appointed interim head while the company searches for a new leader.

Leadership Shake-Up

Shares of Viva Energy Limited (ASX: VEA) dropped almost 8% at the time of writing, marking their lowest point in four months, after the unexpected resignation of Jevan Bouzo, chief executive of the company’s convenience and mobility division. Bouzo played a pivotal role in expanding the business through the acquisition of Coles Express, OTR Group, and Liberty Convenience, cementing Viva Energy’s position as a major player in Australia’s convenience retail sector.

Group CEO Scott Wyatt acknowledged Bouzo’s contributions and confirmed that he will remain with the company until the end of the year to ensure a smooth transition. Wyatt added that the search is underway for a new leader with significant retail expertise to guide the next phase of growth.

Interim Appointment

Until a permanent successor is named, Jennifer Gray, currently the chief operating officer, will step into the role on an interim basis. The company noted that her experience positions her well to maintain operational stability during the transition.

Market Reaction

At the time of writing, Viva Energy shares were trading down nearly 8%. If this decline holds, it would represent the sharpest single-day drop since April, reflecting investor concerns about leadership uncertainty in a key division. Despite the setback, Viva Energy emphasized that its long-term strategy remains intact, with integration of its retail acquisitions largely complete. The company emphasized its dedication to building up the convenience and mobility arm while keeping long-term growth in sight.

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