Seven & i Appoints New CEO and Announces Restructuring Amid Takeover Bid

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Posted by NewAdmin on 2025-03-06 08:50:18 |

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Japan’s Seven & i Holdings, the operator of 7-Eleven convenience stores, has announced a leadership change and restructuring plan amid a $47 billion takeover bid from Canadian convenience store giant Alimentation Couche-Tard. Lead outside director Stephen Dacus will replace Ryuichi Isaka as CEO on May 27, marking the first time a foreign executive will head the company. Dacus has previously held executive roles at Walmart and Fast Retailing and was leading a special committee reviewing takeover bids.

Seven & i has faced investor criticism for its capital allocation strategy. In response to Couche-Tard’s buyout proposal, a group led by the company’s founding Ito family attempted its own buyout but failed to secure the necessary $58 billion in funding. With the deal falling through, the company’s management aims to pursue an independent recovery plan.

As part of its restructuring, Seven & i announced plans to repurchase about 2 trillion yen ($13.4 billion) worth of shares through fiscal year 2030. Additionally, it will seek to list its North American convenience store subsidiary by the second half of 2026. The company has also agreed to sell its superstore unit to Bain Capital for 814.7 billion yen and will reduce its stake in Seven Bank to below 40 percent.

The special committee evaluating takeover bids will continue discussions with Couche-Tard to explore potential solutions, including divestitures. Isaka, who has been with Seven & i since 1980 and served as president since 2016, has faced criticism from foreign investors, including ValueAct Capital and Artisan Partners, for his strategic decisions. His independent turnaround plan, outlined in October, aimed to double sales to 30 trillion yen by 2030 through international expansion and a focus on fresh food offerings. If Couche-Tard successfully acquires Seven & i, it would mark the largest foreign takeover of a Japanese company. The Japanese government classified Seven & i as “core” to national security in September, but officials stated that this would not necessarily block a foreign acquisition. The company is set to hold a media briefing to discuss its restructuring plans further.

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