You are here
DALLAS--7-Eleven Inc. announced Senior Vice President and CFO, Edward W. Moneypenny, will be retiring from the company. CEO and President Jim Keyes announced his retirement on Monday.
Moneypenny brought considerable experience as the CFO of two former Fortune 500 companies to 7-Eleven in early 2002. During his tenure as chief financial officer, 7-Eleven's stock experienced significant appreciation creating value for all stakeholders.
"Ed brought added financial discipline and a wealth of business experience to 7-Eleven," said Jay W. Chai, former chairman of 7-Eleven's Audit Committee. "We wish him all the best as he moves on to the next stage of his personal and professional life."
Following the completion of a successful tender offer and a short-form merger on Nov. 9, 2005, Seven-Eleven Japan and its affiliates now own 100 percent of 7-Eleven Inc.
"Given the completion of Seven-Eleven Japan's tender offer, the timing is right for me to retire," Moneypenny said. "I have enjoyed working in the retail industry and have particularly appreciated working with the many dedicated and hard-working employees at 7-Eleven."
Replacing Moneypenny as senior vice president and chief financial officer is Stanley W. Reynolds, currently vice president of corporate planning and treasurer reporting to Moneypenny. The moves, which are effective immediately, are part of 7-Eleven's long-term succession planning.
Reynolds, 40, started with the company as manager of corporate finance and was named assistant treasurer in 2000. He was promoted to vice president and treasurer in 2001, and added responsibility for strategic planning in 2005.
"I've worked closely with Stan Reynolds during my career at 7-Eleven," Moneypenny said. "He's an outstanding executive who has been a key player in developing and executing our strategy and is uniquely qualified to contribute to 7-Eleven during this next phase of growth and opportunity."
After retirement, Moneypenny will serve as an advisor to the company during 2006.
Moneypenny is currently a member of the board of directors and audit committee of The Timberland Company and an Executive Committee member of the Dean's Business Council at the University of Illinois College of Business.