Caltex Australia chief executive Julian Segal is to retire after about a decade in the role, leaving to his successor the task of completing the fuel supplier's convenience retailing revamp and delivering on the targeted returns.

Given Mr Segal's longer-than-average tenure and some signalling of a coming change by management, the market took the news in its stride, with Caltex shares closing 1.6 per cent higher at $26.75.