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    7-Eleven's Rose and Podeschi Retire; Leadership Team Restructured

    As executive shakeup continues, company appoints several new positions.

    DALLAS -- Following Jim Keyes’s retirement as president and CEO, two longtime 7-Eleven officials -- Gary Rose, chief operating officer/executive vice-president and David Podeschi, senior vice-president of merchandising -- retired, according to a letter sent by Joe DePinto, president and CEO of 7-Eleven, to the company’s vendor community. The letter also outlined the company’s new leadership team.

    "I want to pass along my sincere thanks to both Gary Rose and David Podeschi for all their tremendous contributions to 7-Eleven," DePinto said in the letter.

    The letter also announced new appointments to 7-Eleven's leadership team. Masa Asakura will assume the position of executive vice president and chief operating officer and will be responsible for leading store operations, merchandising, franchising and marketing organizations.

    Buck Smith will remain secretary and was named executive vice president and chief administrative officer. He will handle legal, international, procurement, real estate and maintenance and construction organizations. Paul Rostron was appointed executive vice president and chief people officer and will be responsible for leading the company’s people and culture initiatives. Keith Morrow was named senior vice president and chief information officer and will handle technology initiatives. Stan Reynolds will continue in his recently announced role as senior vice president and chief financial officer and be responsible for finance and controls initiatives.

    7-Eleven named Rose chief operating officer in June 2004. A 37-year veteran of 7-Eleven, Rose held a number of executive-level positions, including vice president of gasoline and environmental services; vice president of merchandising for non-foods; senior vice president of merchandising and development; and executive vice president of field operations. During his tenure as head of merchandising and operations, 7-Eleven posted 30 consecutive quarters of same-store sales increases in the United States.

    "Gary Rose has been instrumental in many of the company’s operational successes over the last several years, and we all owe him a debt of gratitude," DePinto stated in the letter. "His passion for operations, his drive for results and his commitment to our stores and out people will be missed."

    Podeschi had been with 7-Eleven for 25 years.

    "David Podeschi’s leadership of the merchandising function has helped the company drive fresh food sales to record levels in addition to significantly improving our merchandising systems and processes," DePinto stated in the letter.

    DePinto ended his letter by encouraging the vendor community to continue to focus on the customers and stores.

    "We must work to best support and enable our franchisees and store associated in their consant effort to improve product mix, to keep the stores clean and comfortable and to provide unparalleled service," DePinto wrote.

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