Rae joined the ACS, which represents 32,500 c-store retailers, in September 2001 replacing Trevor Dixon. He was previously MD of buying group Key Lekkerland and also worked for Texaco and Q8.
As chief executive, Rae has been a leading voice in the sector and led many high profile campaigns.
He was also instrumental in setting up the Association of News Retailing, the ACS's news arm covering newstrade distribution issues.
He said: "I have had a great five years as chief executive and looking back on this time, I believe the organisation has achieved a great deal. I know that I leave the ACS in a healthy position to move forward."
The ACS is aiming to fill the post before Rae retires. The organisation is seeking a high-profile candidate and is to advertise externally.