Seven & i Holdings, the retail giant at the centre of Japan’s biggest takeover battle, is finalising plans to replace current president and chief executive Ryuichi Isaka with its first foreign boss, according to people familiar with the matter.
Stephen Dacus, lead independent director and head of the company’s special committee responsible for evaluating a $47bn takeover approach from Canada’s Alimentation Couche-Tard, is likely to take the top job at the owner of the 7-Eleven convenience store chain in the coming months, the people said.
Dacus and the special committee are expected over the next few weeks to unveil strategic proposals to increase the company’s value ahead of an annual shareholder meeting in May, one person added.
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