Toshifumi Suzuki, the Japanese businessman credited with creating the 7-Eleven global retail empire and known as the father of Japan's convenience store industry, has died of heart failure. Seven & i Holdings announced that Suzuki passed away on May 18 at the age of 93.
Suzuki set up Seven-Eleven Japan in 1973 and became its chief executive in 1978. Over four decades, he built the chain into a cornerstone of daily life in Japan and transformed the retail sector, realizing early on that convenience stores should cater to local tastes.
Under his leadership, 7-Eleven became the world's largest convenience store chain. By the time he left his role as CEO in May 2016, the company had expanded its franchise model to over 55,000 outlets in at least 16 countries.
Suzuki also served as the chief executive of Seven & i Holdings, though he lost the position following a boardroom coup. He most recently served as an honorary adviser to the company.