Philippine Seven Corp. (PSC) president and chief executive Jose Victor Paterno was elected chairman of the National Association of Convenience Stores (NACS), a leading global trade association based in Alexandria, Virginia in the United States.
Paterno will serve as chairman of NACS for 2023-2024 to become the second non-US retailer to assume the post and the first from Asia.
“I am deeply honored and humbled to take on the role. It is a tremendous privilege to represent not only PSC but also 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,” said Paterno in a statement.
His advocacy during his term, as outlined in his acceptance speech, is to build out an industry-wide technology platform that would allow retailers, big and small, to participate in growing digital ad spend from FMCG manufacturers. This is something that is happening in other retail formats, but not in convenience, due to its fragmented industry structure.
He cited his experience in the Philippines, which in many respects was ahead of the US as a more consolidated industry structure allowed for more technological innovation.
NACS, founded in 1961, started in the US, where it represents over 150,000 convenience stores. It later expanded globally, covering 350,000 stores in total.
The group is led by a 30-member board of directors, which includes the largest US convenience retailers, including 7-Eleven US.
PSC oversees 3,600 7-Eleven stores operating nationwide, of which 54 percent are operating under franchise agreements.