IRVING, Texas—7-Eleven announced that Ken Wakabayashi will be the co-CEO of 7-Eleven International (7IN), according to a news release. Previously 7-Eleven senior vice president, head of international, Wakabayashi will now lead the 7-Eleven brand's global growth strategy alongside co-CEO Shinji Abe from Seven-Eleven Japan.
The announcement of Wakabayashi’s new role is following the formation of 7IN, which “better leverages 7-Eleven's product development capabilities, digital technology and environmental, social and governance (ESG) initiatives, while maintaining its position as a global brand,” the company said. 7IN combines the strengths that joint owners 7-Eleven Inc. and Seven-Eleven Japan have cultivated in their local markets, according to the release.
7-Eleven also announced that Joe DePinto, chief executive officer; Chris Tanco, executive vice president and chief operating officer; and Stan Reynolds, executive vice president and chief financial officer, along with Wakabayashi, will serve on the 7IN board of directors.
"We are thrilled to offer our congratulations to Ken Wakabayashi on this exciting new role," said DePinto. "With this move, Ken will help lead the 7IN team to further our global growth strategy and provide world-class value and support to our international licensees and master franchisees."
As co-CEOs of 7IN, Wakabayashi and Abe will be responsible for all operations outside North America and Japan, as well as overseeing the 7–Eleven trademark globally.
"This change reinforces 7-Eleven Inc.'s and Seven-Eleven Japan's commitment to the growth of the 7–Eleven brand and to providing value and support to our licensee and master franchisee organizations," said Wakabayashi. "We are well positioned for growth and long-term value creation as we focus on expanding the brand into new territories and provide an enhanced support structure for our existing territories."