Seven & i Holdings, the operator of 7-Eleven convenience stores, has appointed American Stephen Hayes Dacus as the new CEO starting on May 27th, succeeding Ryuichi Isaka. Dacus will be the first foreigner to take the helm of the multinational company. Seven & i Holdings also plans to go public with its convenience store business in North America and buy back shares worth 12 trillion yen (12.510 billion euros) in response to interest from Canadian company Alimentation Couche-Tard (ACT).
The announcement of Stephen Hayes Dacus as the new CEO of Seven & i Holdings signifies a significant change in leadership for the company. Dacus will bring his expertise and experience to the role, taking over from Ryuichi Isaka on May 27th. This transition marks a new chapter for Seven & i Holdings as they look towards the future under Dacus’ leadership.
The decision to appoint a foreigner as CEO is a bold move by Seven & i Holdings, highlighting their commitment to diversity and global perspectives. Dacus’ appointment reflects the company’s desire to bring in fresh ideas and perspectives to drive growth and innovation in the highly competitive convenience store industry.
In addition to the leadership change, Seven & i Holdings has announced plans to take their convenience store business in North America public. This strategic move aims to capitalize on the strong market potential in the region and unlock value for shareholders. By going public, Seven & i Holdings will be able to access additional capital to support expansion and investment in their North American operations.
Furthermore, the decision to repurchase shares worth 12 trillion yen demonstrates Seven & i Holdings’ commitment to maximizing shareholder value. This buyback program will help to support the company’s stock price and signal confidence in the long-term prospects of the business. Additionally, the buyback will help to fend off any potential takeover attempts, such as the interest shown by Alimentation Couche-Tard (ACT).
Overall, Seven & i Holdings is making strategic moves to position itself for future success in the competitive convenience store industry. The appointment of Stephen Hayes Dacus as CEO, the decision to go public with their North American business, and the share buyback program all reflect the company’s commitment to driving growth, innovation, and shareholder value in the years to come.
FUENTE