Japanese c-store retailer FamilyMart has announced that Itochu executive Isamu Nakayama will replace Junji Ueda as its president and CEO.
FamilyMart’s board of directors approved the move at a meeting on 27 December, although it remains subject to a shareholder vote at the firm’s annual general meeting in May. Unconfirmed reports said Ueda is to become group chairman.
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Nakayama is currently managing executive officer for Japan-based Itochu, which recently signed a joint-venture with FamilyMart to develop stores in the Philippines. The first FamilyMart store is set to open there in February 2013.
Overseas expansion is set to dominate Nakayam’s agenda at FamilyMart.
Earlier this year, the retailer opened its first stores in China’s interior and is targeting 8,000 outlets in China as a whole by 2020. It had 900 stores in the country at the end of May last year.
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