CEO of Seven & i’s N. American Unit to Retire

Tokyo, Dec. 22 (Jiji Press)–Seven & i Holdings Co. has said that Joseph DePinto, CEO of 7-Eleven Inc., the Japanese retail giant’s North American convenience store unit, is set to retire at the end of this month. Stanley Reynolds, president of 7-Eleven, and Douglas Rosencrans, its executive vice president and chief operating officer, will serve as co-CEOs until a successor to DePinto is appointed, Seven & i said. DePinto has served as 7-Eleven CEO for more than 20 years. He resigned as a board director of the parent company in March this year. Seven & i President and CEO Stephen Dacus praised DePinto’s “more than two decades of dedicated service,” saying that he “led the significant expansion of the group’s international and U.S. store network” and helped “grow 7-Eleven into the world’s largest convenience store chain.” “We strive to find, through a thorough selection process, the right person who can lead” 7-Eleven, Dacus added. DePinto commented, “I’m grateful to all who have supported 7-Eleven and me the past two decades and helped grow this brand and our business into what it is today.” END [Copyright The Jiji Press, Ltd.]