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7-Eleven's Parent Appoints Stephen Dacus as First Non-Japanese CEO

Mellissa · 06 Mar3.2K Views

Image Credit: Bloomberg

Seven & I Holdings Co. has announced significant changes in its leadership and strategy as part of a major restructuring aimed at enhancing shareholder value. The company's current President and CEO, Ryuichi Isaka, will be replaced by Stephen Dacus, a board member who is currently overseeing a special committee evaluating a proposed acquisition by Canada's Alimentation Couche-Tard Inc.

As part of its overhaul, Seven & I revealed plans to launch an initial public offering (IPO) for its US-based 7-Eleven convenience store business in the second half of 2026. The company also finalized a deal to sell its superstore business to a unit of Bain Capital for $5.37 billion. This transaction will help fund a ¥2 trillion ($13.4 billion) share buyback program. Additionally, Seven & I will divest its banking business holdings.

Following the announcement, Seven & I's stock surged by as much as 10% before closing up 6%, marking its biggest jump since November. This move comes after a challenging year for the company, with its shares down by 20% in 2025.

The strategic shift comes amid increasing pressure for Seven & I to either engage with Couche-Tard or find ways to increase the value of its well-known brand independently. Last month, a proposed management buyout led by the Ito family, which would take the company private, collapsed, limiting the retailer's available options. Although Seven & I rejected an earlier offer from Couche-Tard, deeming it undervalued, the company has not yet responded to a revised offer to purchase shares at ¥2,777 ($18.19) each.

Seven & I has stated that it is still in “constructive engagement” with Couche-Tard regarding the buyout proposal, following the Ito family's inability to secure funding for the buyout.

Stephen Dacus, who is 64 years old and fluent in Japanese, will become the first non-Japanese CEO of Seven & I. Dacus has extensive experience in the Japanese retail sector, having worked with companies such as Mars Inc., Fast Retailing Co., Walmart’s Japan division, and Seiyu Holdings Co. His background also includes roles as an outside director for Food & Life Companies Ltd. and chairman of the US division of Daiso Industries Ltd.