Retail giant Seven & i Holdings has announced it will replace its president Isaka Ryuichi with an outside director. Stephen Dacus will be the company’s first non-Japanese president after he takes the job following a shareholders meeting in May. Isaka said: “Our group has grown steadily, but we are aware that we have entered a phase where we need different measures to achieve growth in the future. As a result of a strict process, we have decided that Stephen Dacus is the most suitable person to take the helm of the company group from this point on.” Dacus said: “We are now at a time of change and the opportunity to take this great foundation that Isaka-san and his team and others have created and take that to the next level is an opportunity that is just too good to walk away from. I’m honored to have been chosen by the board, and I look forward to working with the board, our franchisees and others throughout the company to make this an even better company.” The firm approved the reshuffle at a board meeting on Thursday. It also revealed plans to boost its value. (Ref.NHK WORLD-JAPAN)