Seven & i to replace CEO in May, list North American subsidiary in second half of 2026

Seven & i to replace CEO in May, list North American subsidiary in second half of 2026


A customer is seen inside a 7-Eleven convenience store along a street in central Tokyo on September 9, 2024.  

Richard A. Brooks | Afp | Getty Images

Seven & i Holdings, the parent of 7-Eleven, said Thursday it will replace CEO Ryuichi Isaka with lead independent outside director Stephen Dacus, making a foreigner the top executive for the first time, according to domestic media.

Dacus will take charge from Isaka on May 27, according to a company filing. Seven & i said that Isaka will remain as senior adviser to the company.

Dacus was currently the head of the company’s special committee that is evaluating a $47-billion takeover bid from Canada’s Alimentation Couche-Tard. He was announced to have stepped down from the committee on March 5, and independent outside director Paul Yonamine replaced him.

The convenience store operator also announced a share buyback of 2 trillion yen ($13.2 billion) and plans to list its North American subsidiary, 7-Eleven Inc.

The company said that it will hold a majority stake in the subsidiary which will be listed in the second half of 2026.

Shares of Seven & i ended the day up 6.11%, as reports about the impending changes emerged on Thursday.

Stock Chart IconStock chart icon

hide content

The company also announced that it will sell its superstore business group — consisting of supermarkets — to investment company Bain Capital for 814.7 billion yen ($5.37 billion), with the transaction expected to be completed in September 2025.

Seven & i said the share buyback will be funded by proceeds from the sale of its superstore business group and the IPO of 7-Eleven Inc.

These buybacks will commence when the sale is completed, and are expected to conclude by the company’s 2030 financial year.

A dividend policy will also be implemented, the company said, adding that “it will continue to maintain or increase per share dividend amount over time for cashflow generated from ordinary business operation.”

Seven & i also provided an update on the takeover bid by Canada’s Couche-Tard, saying that the special committee formed to review the proposal “has been committed to exploring all value creation opportunities, including active and constructive engagement with ACT and will continue to do so.”

It said a consistent hurdle that the Couche-Tard proposal needed to resolve is addressing “the serious U.S. antitrust challenges that any transaction would face.”

The company then revealed that it has been working with Couche-Tard to put together a “potential divestiture package” that could operate effectively and assure competition between Couche-Tard and the buyer of the divested stores, even after a transaction.

The $47-billion bid by Couche-Tard is the only active bid for Seven and i, after a management buyout attempt by the founding family failed to secure the financing needed to take over the convenience store operator last week.



Source

Danny Moses of ‘The Big Short’ breaks down why he likes the unloved energy sector now
World

Danny Moses of ‘The Big Short’ breaks down why he likes the unloved energy sector now

Investor Danny Moses, who made a killing betting against mortgage-backed debt before the 2008 crash, revealed he is bullish on the unloved energy sector. The Moses Ventures founder pointed out that energy stocks’ weighting in the S & P 500 benchmark is only 3% right now, compared to their historical average of 7%. “I don’t […]

Read More
WWDC25 live updates: Apple to announce iOS 26, AI developments
World

WWDC25 live updates: Apple to announce iOS 26, AI developments

Apple brings together its operating system names to simply 26 Thomas Fuller | SOPA Images | Lightrocket | Getty Images Apple is changing the style of its names of operating systems for all of its devices. To reflect the majority of the year when these software updates will be available to customers, the company will […]

Read More
OpenAI hits  billion in annual recurring revenue fueled by ChatGPT growth
World

OpenAI hits $10 billion in annual recurring revenue fueled by ChatGPT growth

OpenAI Chief Executive Officer Sam Altman appears on screen during a talk with Microsoft Chairman and Chief Executive Officer Satya Nadella at the Microsoft Build 2025 conference in Seattle, May 19, 2025. Jason Redmond | AFP | Getty Images OpenAI has hit $10 billion in annual recurring revenue less than three years after launching its […]

Read More