The Japanese owner of the 7-Eleven chain has appointed a new US executive, Stephen Dacus, as its first foreign-born chief executive. The move comes as the company tries to fend off a $47 billion takeover bid from a Canadian retailer. Seven & i Holdings plans to list its US convenience store business and sell some peripheral retail businesses to Bain Capital in a bid to increase shareholder value.
The appointment of Dacus is part of the company’s efforts to shift its focus towards bringing high-quality food to overseas markets, including the US. However, critics argue that the proposal for a founding-family-led buyout fell apart due to lack of funding. The new CEO will have to convince shareholders that the company’s new structure can drive growth without the need for a sale.
Dacus has extensive experience in Japan’s retail industry and has worked at several major brands, including Uniqlo and Walmart Japan. He is expected to play a key role in navigating the company through its current challenges and securing a more favorable future for shareholders.
Source: https://www.nytimes.com/2025/03/06/business/7-eleven-stephen-dacus.html