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Investing.com -- Seven & i Holdings, a prominent Japanese retail company, is reportedly preparing for its chief executive, Ryuichi Isaka, to step down, Reuters reported.
The most probable successor is expected to be Stephen Dacus, marking the first time a foreigner would lead the company, according to Reuters.
The development was first reported by the Nikkei business daily on Monday.
Seven & i shares gained 2.4% on Monday.
Dacus is currently heading a special committee evaluating a $47 billion takeover bid from Canada’s Alimentation Couche-Tard, as well as a take-private deal from Seven & i’s founding family, which recently fell through.
A board meeting is scheduled for Thursday where the final decision regarding Isaka’s successor will be made.
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