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Richmond Mercurio - The Philippine Star
April 26, 2025 | 12:00am
In a stock exchange filing, PSC said that Pardo has conveyed his intent to retire and step down as chairman of the board and independent director of the company upon the end of his term by July.
Photo Release
MANILA, Philippines — Jose Pardo is relinquishing his post as chairman of Philippine Seven Corp. (PSC), the exclusive licensee of convenience store giant 7-Eleven in the Philippines, after a decade, with long-time president Jose Victor Paterno taking over his post.
In a stock exchange filing, PSC said that Pardo has conveyed his intent to retire and step down as chairman of the board and independent director of the company upon the end of his term by July.
Pardo, who was first elected as PSC chairman of the board since January 2015, will be assuming the role of chairman emeritus.
Paterno will transition to the role of chairman of the board and of the executive committee on July 17, 2025.
Paterno was first elected as president of PSC in January 2005.
PSC chief operating officer Ying-Jung Lee, meanwhile, will be elected as director and the president of the company.
Lee has been with PSC since November 2, 2010 and has been the company’s COO since 2020.
He was also the former vice president for supply chain of PSC from 2014 to 2019.
Prior to joining PSC in 2010, Lee held various positions in President Chain Store Corp., the 7-Eleven area licensee in Taiwan.
Lee holds a bachelor’s degree in cooperative economics in Feng-Chia University in Taiwan.
PSC is targeting to open 500 7-Eleven branches this year, the most in the company’s history.
The company opened its first 7-Eleven store at the corner of EDSA and Kamias Road in Metro Manila in 1984.
Last year, PSC reached a new milestone with the opening of the 4,000th 7-Eleven store in Newport District, Pasay City.
