LISTED retailer Philippine Seven Corp. announced that its top official has been elected as the chair of the National Association of Convenience Stores (NACS) in the United States.
In a statement on Monday, the company said Jose Victor P. Paterno, its president and chief executive officer, is now chairman of the NACS, which is based in Alexandria, Virginia and represents 350,000 stores globally.
The NACS is a global trade association seeking to advance convenience and fuel retailing. It is led by a 30-member board of directors, which includes 7-Eleven US.
The election took place during the NACS board meeting on Oct. 3 on the sidelines of the annual NACS trade show in Atlanta, Georgia.
The company said Mr. Paterno is the second non-US retailer to assume the post as well as the first one from Asia.
His advocacies for NACS include building an industry-wide technology platform that would allow retailers big and small to participate in growing digital ad spending from fast-moving consumer goods manufacturers.
Mr. Paterno said he is “deeply honored and humbled” to take on the role, calling it a “tremendous privilege” to represent the company and the broader convenience store industry.
“I take pride in what we’ve been able to accomplish in the Philippines with technology and market share, and am excited to take things to the next level in collaboration with some of the best retail and tech minds I’ve met at NACS and its partners,” he said.
Philippine Seven currently oversees 3,600 7-Eleven stores operating across the country, of which 54% are operating under franchise agreements.
On Monday, its shares at the local bourse fell P1 or 1.25% to close at P79 apiece. — Revin Mikhael D. Ochave