Seven & i Holdings Appoints Junro Ito Chairman, Atsushi Akutsu President, Plans Board Refresh Amid $47.5 Billion Takeover Bid

Seven & i Holdings, the operator of Japan's 7-Eleven convenience store chain, announced a leadership change and board restructuring as part of its efforts to fend off a $47.5 billion takeover bid by Alimentation Couche-Tard. The company revealed that Junro Ito, the current vice president and a member of the founding family, will become chairman on May 27, retaining representative rights. Atsushi Akutsu, an executive officer with 30 years of experience supporting franchise stores, will be promoted to president, marking the first change in the 7-Eleven Japan presidency in six years. The board will also see a significant refresh with the nomination of four new directors, including a former senior government official, aiming to strengthen the company's global convenience store operations and enhance value for shareholders. These moves are part of Seven & i Holdings' strategy to reinforce relations with franchisees and resist the takeover attempt by the Canadian convenience store operator.