Nagamatsu to Become Seven-Eleven Japan President

Economy Society

Tokyo, April 4 (Jiji Press)--Seven & i Holdings Co. <3382> said Thursday that it will promote Fumihiko Nagamatsu, vice president of Seven-Eleven Japan Co., to the unit's president, effective April 8.

Kazuki Furuya, the current president of the leading convenience store chain operator, will step down to become chairman without the right to represent the company.

Seven Eleven Japan has failed to adequately handle a situation in which a franchise outlet in Osaka Prefecture, western Japan, stopped its 24-hour service without Seven-Eleven Japan's permission.

The parent company deemed that there is a need to reform Seven-Eleven Japan's management team and settle the matter as early as possible.

Nagamatsu, 62, joined Seven-Eleven Japan in 1980. After taking up various posts, including those on franchise outlet management and personnel affairs, he became vice president in March this year, after the franchise issue came to light.

[Copyright The Jiji Press, Ltd.]

Jiji Press