Seven & i Reportedly to See Changes at the Top
TOKYO — Seven & i Holdings Co. Ltd. will soon have new leadership, according to inside sources.
The parent company of 7-Eleven Inc. is said to be planning the appointment of Stephen Hayes Dacus, chairman of the company's board of directors, as its new CEO. Current CEO and President Ryuichi Isaka, who has led the company since 2016, will step down, anonymous sources familiar with the matter told the Nikkei Asia.
A formal decision is expected to be made at a board meeting on March 6.
Seven & i released a brief statement on the potential changeover, acknowledging the reports but noting that "this information was not announced by the company and no decision has been made by the company at this time."
Dacus would be the first foreign leader of Seven & i. He has served as a board member since 2022, previously led Seiyu Holdings and held positions at Fast Retailing and Food & Life Cos., reported Reuters.
Dacus also chairs the special committee created to evaluate a nonbinding, reportedly $47 billion takeover bid for Seven & i from Laval, Quebec-based Alimentation Couche-Tard Inc. If named CEO, he is expected to be replaced on the special committee by Paul Yonamine, another outside director.
The reported leadership change comes as Couche-Tard is working to take the next steps in a possible acquisition. Following the collapse of a $58 billion management buyout offer that would have taken Seven & i private, Couche-Tard registered a subsidiary entity in Japan with the intent of establishing a future office there.
Irving, Texas-based 7-Eleven Inc. operates, franchises and/or licenses more than 13,000 stores in the United States and Canada. In addition to 7-Eleven stores, it operates and franchises Speedway, Stripes, Laredo Taco Co., and Raise the Roost Chicken and Biscuits locations.