US convenience store chain 7-Eleven has announced that its president and CEO, Jim Keyes, has retired from the company, effective 11 November 2005.

Keyes has also resigned from his position as a member of 7-Eleven's board of directors.

During his more than 20 years with 7-Eleven, Keyes held numerous leadership positions, including chief financial officer, chief operating officer and, since 2000, president and chief executive officer.

The announcement comes after Seven-Eleven Japan recently increased its stake in 7-Eleven to 100% following a successful tender offer.

Toshifumi Suzuki, chairman and CEO of Seven-Eleven Japan, has been named acting president and CEO of 7-Eleven until a successor is named.  The search for a successor to Keyes will begin immediately, the company said.