Latest news with #SevenAndiHoldings
NHK
28-05-2025
- Business
- NHK
Seven & i shareholders approve first foreign president
Shareholders of Japanese retail giant Seven & i Holdings have approved the appointment of Stephen Dacus as its new president. He becomes the first foreigner to lead the company. The operator of the 7-Eleven convenience store chain held a shareholders' meeting in Tokyo on Tuesday. Seven proposals put forward by the board were approved. They include the appointment as chairman of Ito Junro, a member of the group's founding family. One shareholder asked how the firm will deal with a buyout proposal from Alimentation Couche-Tard. Seven & i is seeking to fend off the takeover bid from the Canadian company, which runs convenience-stores in North America. Seven & i has said it plans to sell off non-core businesses and focus on convenience stores to improve corporate value on its own. One shareholder from Saitama said after the meeting "I think the company needs to work hard under the new president to survive intensifying competition." Another participant from Chiba said " We were informed about what is going on with Alimentation Couche-Tard, so shareholders are getting a clearer picture." Dacus is a former CEO of Japanese supermarket chain, Seiyu. He has pledged to expand the 7-Eleven network outside Japan to boost profits.
CTV News
27-05-2025
- Business
- CTV News
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan
TOKYO — Stephen Hayes Dacus was approved Tuesday to be the new chief executive of the operator of 7-Eleven, the first foreigner to lead the Japanese convenience store chain. The American with a Japanese mother was appointed earlier this year to be chief executive of Seven & i Holdings Co., which operates the stores, known as 'konbini' in Japan. An acquisition proposal by Alimentation Couche-Tard of Canada, which the company has so far rejected, was not up for vote at the shareholders' meeting. The companies are discussing the proposal and Seven & i is conducting an internal study. Dacus has promised further growth for the business, which has been widening its overseas appeal. The 7-Eleven chain is the biggest convenience store chain in the U.S. But some analysts say there are challenges in the Japanese market, where the population is rapidly aging and competition is fierce among konbini brands. Fluent in Japanese and English, Dacus previously worked at Walmart, Japanese clothing chain Uniqlo and other retailers. Shareholders appeared to have high hopes for his leadership and the rest of the new team that also won their approval. It remains unclear whether the company is going to go it alone or decide to collaborate with Couche-Tard. Stephen Hayes Dacus, who was tapped to be the next chief executive of Seven & i Holdings, which operates the 7-Eleven convenience store chain, poses for a photo at the company's headquarters in Tokyo, April 25, 2025. (AP Photo/Yuri Kageyama, File) Stephen Hayes Dacus, who was tapped to be the next chief executive of Seven & i Holdings, which operates the 7-Eleven convenience store chain, poses for a photo at the company's headquarters in Tokyo, April 25, 2025. (AP Photo/Yuri Kageyama, File) The 7-Eleven stores in Japan sell everything from ice cream to batteries to health needs and hot meals. Some stores allow customers to pay utility bills or use the copier machine. They also work with local governments to help out during disasters, providing water, relief supplies, toilet facilities and emergency information. ___ Yuri Kageyama, The Associated Press
