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(Bloomberg) — Seven & i Holdings Co. appointed former Keurig Dr Pepper Inc. executive Mauricio Leyva to lead its North American convenience-store business, putting a consumer industry veteran in charge as the Japanese retailer tries to revive performance and prepare the unit for an eventual public listing.
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Leyva will become chief executive officer of 7-Eleven Inc. on Aug. 1, Tokyo-based Seven & i said in a statement Friday, adding that he’ll oversee efforts to bolster the store network and grow the company’s largest overseas business.
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The appointment comes three months after Seven & i said it would delay the listing of the US operation until the fiscal year ending February 2027, citing uncertain market conditions and the need to improve performance. 7-Eleven stores in North America have been hurt by weak fuel demand, softer consumer spending and slower store traffic, exposing the retailer’s reliance on gasoline-linked visits to drive higher-margin in-store purchases.
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Leyva served as group president of Keurig Dr Pepper from 2020 to 2024 after the merger of Keurig Green Mountain and Dr Pepper Snapple Group.
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“His appointment represents an important milestone as the company accelerates toward our transformation program,” Chief Executive Officer Stephen Dacus said in the statement.
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Joe DePinto, who was CEO of 7-Eleven’s US operations for two decades and orchestrated its expansion through the acquisition of Speedway and Sunoco gasoline stations, retired at the end of last year. While DePinto’s tenure was defined by aggressive expansion, the business struggled to improve profitability.
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Dacus’s decision to delay the IPO underscores how heavily the unit’s valuation will depend on a turnaround in its US business, which generates roughly half of the group’s convenience-store profit.
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Seven & i has been under pressure over its sluggish share price and drew an unsolicited takeover bid from Canada’s Alimentation Couche-Tard Inc. in 2024. While the Circle K owner abandoned its offer, the Japanese retailer streamlined its business and promised faster growth.
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