Retail giant Seven & i Holdings will replace President Isaka Ryuichi with outside director Stephen Dacus. The change takes effect after the shareholders meeting in May.
Dacus will become the company’s first non-Japanese president.
Isaka said: “Our group has grown steadily. But we now need new measures to drive growth. After a strict selection process, we chose Stephen Dacus as the right leader for this next stage.”
Dacus said: “This is a time of change. The foundation built by Isaka-san and his team is strong. I see a great chance to take it to the next level. I’m honored by the board’s decision and excited to work with the board, franchisees, and employees to make this an even better company.”
The board approved the reshuffle on Thursday. It also announced plans to increase corporate value.
(Ref. NHK WORLD-JAPAN)
