Core Viewpoint - 7-Eleven, Inc. announces the retirement of long-serving CEO Joe DePinto and appoints Stan Reynolds and Doug Rosencrans as Interim Co-CEOs while a search for a permanent successor is conducted [1][2][3]. Company Leadership Transition - Joe DePinto will retire at the end of 2025 after over 20 years as CEO, during which he significantly expanded the company's store network and led digital and logistics transformations [1][3]. - Stan Reynolds, previously President of SEI since 2023, and Doug Rosencrans, Executive Vice President & COO since 2022, have been appointed as Interim Co-CEOs [1][5][8]. - The Board of Directors is working with an executive search firm to find a successor to DePinto [2]. Company Performance and Strategy - Under DePinto's leadership, 7-Eleven became the world's largest convenience store chain, focusing on international expansion and digital transformation [3]. - The company aims to enhance performance and drive corporate value through transformational leadership and business initiatives [4]. - The goal is to unlock SEI's full potential and redefine convenience for customers across North America [4]. Background of Interim Co-CEOs - Stan Reynolds has been with SEI since 1997, serving in various financial and strategic roles, including Chief Financial Officer since 2005 [5][6]. - Doug Rosencrans has been with SEI since 2010, holding leadership positions focused on store growth and profitability for over 13,000 stores in the U.S. and Canada [8][9]. Company Overview - 7-Eleven, Inc. operates more than 13,000 stores in the U.S. and Canada, offering a variety of food options and convenience products [11]. - The company is known for its iconic brands and loyalty programs, which have over 100 million members [11].
7-Eleven, Inc. Announces Retirement of CEO Joe DePinto After More Than 20 Years of Service