Paterno-led Philippine Seven Corp. (PSC), the master franchisee for the 7-Eleven convenience store chain in the Philippines, is targeting to have a total of 5,000 branches in operation in 2026 from the 4,130 stores opened as of the end of 2024.

In a press briefing after the firm’s annual stockholders’ meeting, PSC Chairman Jose Victor Paterno said they are planning to add a total of 500 new stores this year and had allocated a capital expenditure (capex) budget of ₱5.5 billion for the 2025 expansion program.

He said the company intends to accelerate its store expansion, focusing on key growth cities and provinces in the country.

Paterno said the company plans to leverage on the use of artificial intelligence (AI) to optimize store inventories and drive growth, while banking on the added service of the automated teller machines (ATMs) that the company is adding into its stores.

“We'll see how these things go. But yes, we plan to accelerate, especially if this new machine shows traction, then the addressable market grows much larger,” he said.

As of end-2024, 3,493 7-Eleven stores in the country, or 84 percent of PSC’s store network, were equipped with cash-recycling ATMs.

Meanwhile, during the stockholders’ meeting, Paterno formally assumed the role of chairman of the board, succeeding Jose T. Pardo, who has been named chair emeritus and member of the advisory board.

Richard Lee, PSC's longtime chief of operations, steps into the role of president, with Paterno noting that “this transition is a testament to the company's strong succession planning and strategic continuity.”

“Paterno and the board expressed full confidence in Lee's leadership, citing his deep understanding of the business, operational excellence, and longstanding contributions to PSC's growth,” the company said.

Lee has played a key role in building operational alignment with PSC's regional partners, particularly 7-Eleven Taiwan, whose technical and strategic collaboration has been instrumental to PSC's success in the Philippine market.