Seven & i Holdings, the parent company of global convenience store chain 7-Eleven, has appointed Stephen Dacus as its new CEO. Dacus, currently the lead independent outside director, will assume the role following the company’s annual shareholders meeting on May 27. This decision is part of a broader restructuring strategy that includes an initial public offering (IPO) of 7-Eleven Inc. in the U.S., planned for the second half of 2026, contingent on favorable market conditions. The IPO aims to leverage 7-Eleven’s strong presence in the U.S., where it operates over 9,000 stores, to drive growth while maintaining synergies with Seven & i, which will remain the majority shareholder.
The restructuring plan also involves selling Seven & i’s superstore business to private equity firm Bain Capital for approximately $3.4 billion and allocating $13 billion for stock buybacks by 2030. Dacus, who brings extensive leadership experience across multiple industries, previously served as CEO of MasterFoods Ltd. and held senior roles at Walmart, including CEO of Walmart Japan Holdings. His expertise in food-focused companies is expected to support 7-Eleven’s ongoing innovation in its foodservice offerings.
Dacus will be the first non-Japanese CEO of Seven & i since its founding in 2005, succeeding Ryuichi Isaka, who has led the company since 2016. The appointment comes amid ongoing discussions regarding a potential takeover bid from Alimentation Couche-Tard, another global convenience store operator. While no final decision has been made, both parties are reportedly working on a divestiture package to address regulatory concerns that have complicated the proposed deal.
Stephen Dacus joined Seven & i’s board as an outside director in 2022 and previously chaired the special committee evaluating Couche-Tard’s offer. He has now stepped down from this role, with Paul Yonamine, another independent outside director, taking his place.
— news from C-Store Dive