7-Eleven Taps American Executive to Help Keep It Out of Canadian Hands

Published On Mar 6, 2025, 3:16 AM

Seven & i Holdings, the Japanese parent company of 7-Eleven, announced major changes to fend off a $47 billion takeover bid from Canadian retailer Alimentation Couche-Tard. The company has appointed Stephen Dacus, an American retail executive, as its first foreign-born CEO. Additionally, Seven & i plans to conduct an initial public offering (IPO) of its U.S. convenience store business and will buy back $13 billion worth of its shares by 2030. These strategies are likely aimed at boosting shareholder value and enhancing the company's valuation amid increased foreign investment interest in Japan.