Longtime CEO of 7-Eleven to retire; interim chiefs named
The hunt is on for a new chief executive at a convenience store giant.
7-Eleven Inc. (SEI) said that Joe DePinto, who served as CEO for more than 20 years, will retire as of the end of this year. Stanley (Stan) Reynolds, president of SEI, and Douglas (Doug) Rosencrans, executive VP and COO of SEI, will serve as interim co-CEOs, effective the same date, until a successor to DePinto is appointed. SEI is the North American convenience store business of Seven & i Holding, the largest convenience store chain in the world..
The move comes as Seven & i Holdings has embarked on an ambitious “transformation” plan that, in North American, includes opening 1,300 stores by fiscal year 2030 and upgrading its food offerings with healthier options. Seven & i is expected to spin off its North American business with an IPO in 2026, but will remain a majority shareholder
"On behalf of the board, I would like to thank Joe for his more than two decades of dedicated service and wish him well in the future,” said Stephen Hayes Dacus, president and CEO of Seven & i. “As CEO of SEI, he has led the significant expansion of the Group's International and U.S. store network and its digital and logistics transformation, helping grow 7-Eleven into the world's largest convenience store chain.”
The company said its board, with the assistance of an executive search firm, is in the process of identifying a successor to DePinto.
“We strive to find, through a thorough selection process, the right person who can lead SEI and help us work even more closely together as one Group,” said Dacus. “Our goal is to further advance our transformation efforts, unlock SEI's full potential, redefine convenience, and bring the 7-Eleven experience to even more customers across the North American market. Our goal is to further advance our transformation efforts, unlock SEI's full potential, redefine convenience, and bring the 7-Eleven experience to even more customers across the North American market.”
DePinto was named director, president and CEO of 7-Eleven Inc. in 2005. Before joining the company, he was president of GameStop and held executive positions at PepsiCo and Thornton Oil.
“Serving as 7-Eleven’s CEO for the past 20 years and working alongside such an incredibly talented team has been the honor of my professional life,” said DePinto. "I want to sincerely thank all our franchise owners, company team members and business partners for their extraordinary commitment to 7-Eleven over the years. I'm grateful to all who have supported 7-Eleven and me the past two decades and helped grow this brand and our business into what it is today."
Based in Irving, Texas, 7-Eleven Inc. operates, franchises and/or licenses more than 13,000 stores in the U.S. and Canada. In addition to 7-Eleven stores, the company operates and franchises Speedway, Stripes, Laredo Taco Company and Raise the Roost Chicken and Biscuits locations.
