Seven & i Approves Stephen Dacus First Foreign CEO Amid Takeover Talks

Seven & i Holdings, the Japanese parent company of 7-Eleven, has appointed Stephen Dacus as its new president and CEO, marking the first time a foreigner has led the company. Shareholders approved the new board, including Chairman Junro Ito from the founding family, amid ongoing efforts to counter a $51.5 billion takeover bid from Canadian convenience store operator Alimentation Couche-Tard. Dacus, who previously served on the board and has extensive experience in Japanese retail companies, pledged to focus on expanding the 7-Eleven network outside Japan and improving corporate value through restructuring and growth initiatives. The company is exploring parallel strategies: working with Couche-Tard on a potential divestiture of overlapping North American stores and pursuing standalone growth plans. Despite some shareholder criticisms regarding board changes and compensation, the proposals passed, and investors appear willing to observe the company’s overhaul under Dacus’s leadership. Seven & i aims to strengthen its convenience store business in Japan and the U.S., targeting faster growth in the coming decade.