7‑Eleven has confirmed that president and CEO Joe DePinto will step down at the end of this year, concluding more than 20 years in the top job.
Following his departure, the retailer will be led on an interim basis by two senior executives.
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Stanley Reynolds, currently president of 7‑Eleven, and Douglas Rosencrans, executive vice president and chief operating officer (COO), will take on the positions of interim co‑CEOs.
Their appointments will commence upon DePinto’s retirement and will continue until a permanent CEO is appointed.
Commenting on his departure, DePinto said: “Serving as 7-Eleven’s CEO for the past 20 years and working alongside such an incredibly talented team has been the honour of my professional life. 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.”
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By GlobalDataThe company, which represents the North American convenience retail operations of Japan’s Seven & i Holdings, said its board of directors has launched a formal succession process.
The board is working with a “globally recognised executive search firm” to identify DePinto’s long-term replacement.
Reynolds has been president of 7‑Eleven since 2023. He previously served as CFO from 2005 and has been with the business since 1997.
His remit covers finance, accounting, mergers and acquisitions, corporate strategy, real estate, information technology and the integration of the Speedway chain.
Rosencrans has held the role of executive vice president and COO since 2022.
He is responsible for driving store expansion and profitability across more than 13,000 outlets in the US and Canada.
Rosencrans joined 7‑Eleven in 2010 and has previously held senior positions in franchise operations, fuel operations and the company’s Canadian division.
Seven & i Holdings president and CEO Stephen Hayes Dacus said: “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. As CEO of SEI, he has led the significant expansion of the Group’s International and US store network and its digital and logistics transformation, helping grow 7-Eleven into the world’s largest convenience store chain.”
Based in Irving, Texas, 7‑Eleven operates, franchises and licenses over 13,000 convenience stores in the US and Canada under the 7‑Eleven, Speedway, Stripes and Laredo Taco Company banners.
In August, 7‑Eleven’s parent company, Seven & i Holdings, announced a revised midterm strategy that includes opening 1,300 new stores in North America by fiscal year 2030 and adding 1,000 more outlets in Japan.
The plan also called for substantial investment in expanding and upgrading its store network.
