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A customer is seen within a 7-Eleven convenience store along a street in the center of Tokyo on September 9, 2024.
Richard A. Brooks | AFP | Getty images
Seven & I Holdingsthe father of 7-eleven, Said Thursday that he will replace CEO Ryuichi Isaka with the leading independent director, external director Stephen Dacus, making a foreigner the best executive for the first time, According to national media.
Dacus will take over Isaka on May 27, according to a company presentation. Seven & i I said that Isaka will continue to be the main advisor of the company.
Dacus was the head of the Company’s Special Committee that is evaluating an acquisition offer of $ 47 billion of Canada’s feeding feed. It was announced that he resigned from the committee on March 5, and the independent external director Paul Yonamine replaced it.
The convenience The store operator also announced a repurchase of shares of 2 billion yen ($ 13.2 billion) and plans to list its subsidiary of North America, 7-Eleven Inc.
The company said it will have a majority participation in the subsidiary that will appear in the second half of 2026.
Seven & I shares ended the day of 6.11%, as reports arose about imminent changes on Thursday.
Seven & I also provided an update on the offer of acquisition of Canada’s couche-tard, saying that the special committee formed to review the proposal “has pledged to explore all the value creation opportunities, including active and constructive commitment to ACT and will continue to do so.”
He said that a consistent obstacle that Touche-tard’s proposal needed to solve is to address “the serious antitrust challenges of the United States that would face any transaction.”
Speaking at a press conference on Thursday, Isaka said that “there has not been significant progress in finding a solution of the United States antitrust challenges” with respect to Touche-tard’s offer, according to a translation of Reuters.
Dacus then added that he does not know “if Couche-tard can improve the value of our company”, adding that there was a “very high regulatory obstacle”, particularly in the United States.
However, the company revealed that it has been working with Couche-Tard to prepare a “potential divestment package” that could function effectively and ensure competition between Couche-Tard and the buyer of disinverted stores, even after a transaction.
The offer of $ 47 billion of Couche-Tard is the only active offer for seven and me, after a MANAGEMENT PURCHASE ATTEMPORY BY THE FACLED FOUNDING FAMILY To ensure the necessary financing to take care of the operator of the convenience store last week.
Sale of business units
Other shares that the company also announced are that it will sell to its Superstore business group, which consists of supermarkets, the Bain Capital Investment Company for 814.7 billion yen ($ 5.37 billion), and the transaction is expected to be completed in September 2025.
Bain capital then plans to list the Seven & I supermarket business in about three years after increasing
Synergies within the group, according to a Reuters report.
Seven & i also plans to reduce your participation in the Banking SERVICES ARM Seven Bank selling your participation to less than 40%. Seven Bank will also be disconsolidated from the company’s balance.
Seven & i
These repurchases will begin when the sale is completed, and they are expected to conclude for financial year 2030 of the company.
A dividend policy will also be implemented, said the company, added that “it will continue to maintain or increase the amount of dividends per share with the time for the cash flow generated by the ordinary commercial operation.”
