Seven-Eleven Japan Pres. to Leave amid Biz Hour Controversy

Economy

Tokyo, April 3 (Jiji Press)--Seven & i Holdings Co <3382> plans to replace Seven-Eleven Japan Co. President Kazuki Furuya after controversy erupted over the convenience store chain's 24-hour operation policy, it was learned Wednesday.

Seven & i Holdings, the parent of Seven-Eleven Japan, will appoint Fumihiko Nagamatsu, vice president of the convenience store unit, as successor to the outgoing president.

The appointments will be decided at a board meeting Thursday morning.

It has not been decided when Nagamatsu, 62, will become president, but he is likely to take office early next week. Furuya, 69, is seen becoming Seven-Eleven Japan chairman.

The controversy was sparked by a franchise outlet in Osaka Prefecture, western Japan, that stopped its 24-hour service in February due to labor shortages without Seven-Eleven Japan's permission.

[Copyright The Jiji Press, Ltd.]

Jiji Press