Seven & i’s IPO of US Arm Hinges on Faster Turnaround, CEO Says

Seven & i Holdings Co.’s chief executive is pressing its US convenience-stores business to deliver a faster turnaround as the retailer seeks a public listing of the unit to fund new investment and lift shareholder returns.

The timing of an initial public offering will depend on execution and the market, said Stephen Dacus, who became CEO six months ago. “How long that takes depends on actual performance, which is unpredictable. It’s a fact that we haven’t yet fully realized 7-Eleven Inc.’s potential, and that its performance is still insufficient,” he said, referring to the company’s US operations.

Stephen Dacus

Photographer: Kiyoshi Ota/Bloomberg