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Japanese retail giant Seven & i Holdings is preparing to replace President Ryuichi Isaka with director Stephen Dacus, marking the company’s first foreign chief, according to Nikkei. Dacus, an outside director since 2022, has led the special committee reviewing a $47 billion takeover bid from Canada’s Alimentation Couche-Tard and a failed take-private deal by the company’s founding family.
While Seven & i has yet to confirm the leadership change, shares surged 4.6% following the report. The company’s founding Ito family had attempted a $58 billion management buyout, but the deal collapsed due to financing issues. Couche-Tard remains committed to negotiating a mutually beneficial agreement.
If the acquisition proceeds, it would be the largest takeover of a Japanese company. Despite Japan classifying Seven & i as "core" to national security, the finance ministry previously stated it wouldn’t obstruct a buyout.
Additionally, Seven & i is reportedly nearing a deal to sell non-core assets to Bain Capital, further reshaping its business strategy.
