Toshifumi Suzuki, who served as Seven & i Holding’s first CEO, died on May 18 of heart failure, according to an obituary released by the company. He was 93 years old.
“Mr. Suzuki's more than 50 years of leadership and innovation were fundamental to our Group's development and growth,” said Seven & i holdings in a LinkedIn post on Monday. “After launching 7-Eleven in Japan in 1973, he set new standards in retail distribution and made convenience stores part of the national infrastructure. “
Suzuki had been involved in 7-Eleven’s global development for decades. After joining retailer Ito-Yokado in 1963, he was among the leaders who brought 7-Eleven to Japan in the 1970s via a licensing agreement with The Southland Corporation, which owned the 7-Eleven brand. He was then named president of 7-Eleven Japan in 1978.
After The Southland Corporation was purchased out of bankruptcy by Ito-Yokado in 1991, Suzuki was named vice chairman of that company as well, according to his obituary. He was then named chairman of the board for 7-Eleven’s North American business in 2003.
In 2005, when Seven & i Holdings was founded by Ito-Yokado to contain all of its business, the company named Suzuki as its first CEO. He would continue in that role for more than a decade, stepping down in 2016 after a clash with shareholders. He was succeeded by Ryuichi Isaka.
Suzuki was named honorary advisor when he left the CEO role, according to his obituary.
