Toshifumi Suzuki, a Japanese businessman who was the former CEO of 7-Eleven’s parent company Seven & i Holdings, has reportedly died of heart failure on May 18, 2026, at the age of 93. Suzuki was the CEO of Seven & i Holdings Co Ltd till 2016, when he stepped down following a management dispute.
The company announced the news of Toshifumi Suzuki’s death on May 25, adding that it expressed its “deepest gratitude” for the kindness and support people showed him.
“We would like to express our deepest gratitude for the kindness and support shown to him during his lifetime, and respectfully inform you of his passing,” the statement continued.
In 2016, Toshifumi Suzuki stepped down after a boardroom spat with US investor Daniel Loeb, whose hedge fund Third Point had invested in Seven & i. The clash began after Suzuki tried to get the board to oust Ryuichi Isaka, the president of 7-Eleven’s Japanese unit and Suzuki’s viable successor, over alleged performance issues.
However, in an open letter at the time, Loeb rallied against Toshifumi Suzuki and pushed to retain Isaka, writing that “rumors” of Isaka’s removal were of “significant concern.” He further added that Isaka had been “instrumental to the success of Seven-Eleven Japan.”
Loeb also alleged that Suzuki planned to create a dynasty within the company by nominating his son, Seven & i’s Chief Information Officer Yasuhiro Suzuki, as his successor. Toshifumi Suzuki denied Loeb’s accusations at the time, saying that he never “uttered any such things” and that his son had no plans to succeed him. Following this, Suzuki resigned as the CEO of the company and addressed his departure in a statement at the time, saying:
“It is my lack of virtue and I am unbearably ashamed. I was supposed to attend an analyst meeting tomorrow. But I cannot go there and explain this year’s prospects anymore after I decided to quit… I don’t care about the breakdown of the votes, I consider I have lost the confidence of the board when no-votes were cast by inside directors. I am not going to name my successor.”
Ultimately, Isaka succeeded Suzuki after he resigned as CEO. However, Suzuki stayed on as an advisor.
Exploring Toshifumi Suzuki’s career following his death at the age of 93
According to The Straits Times, Toshifumi Suzuki was born on December 1, 1932, in Sakaki, Nagano. He was one of 10 children, his father was a public servant, and his mother ran a silkworm business. He studied economics at Chuo University in Tokyo and graduated in 1956. Suzuki first worked at a publishing company before joining Ito-Yokado, a retailer, in 1963.
In 1973, he formed a partnership with Southland Corp, the American parent company of 7-Eleven, and established 7-Eleven Japan, opening its first outlet in Tokyo in 1974. In 1992, he became president of Ito-Yokado and bought a major stake in Southland Corp after it ran into a financial crisis and filed for bankruptcy.
Under his leadership, 7-Eleven flourished across the world, with over 85,000 stores globally. In a 2013 interview, he spoke about opening 7-Eleven in Japan, saying:
“When I first decided to bring 7-Eleven to Japan, everybody said it wouldn’t succeed and opposed the idea – executives, university professors, consultants, all of them. I knew they were wrong.”
In 2005, Toshifumi Suzuki changed the name of Ito-Yokado, 7-Eleven’s parent company, to Seven & i and continued to remain its CEO until he stepped down in 2016.
Edited by Juhi Marzia
