Artisan says Seven & I independent director resignations show board dysfunction
TOKYO, March 13 (Reuters) - Artisan Partners, a U.S.-based investor in Japan's Seven & i 3382.T, reiterated its criticism of governance at the retail giant after two independent directors resigned on Wednesday, having opposed the appointment of a new CEO earlier in the week.
"The recent resignations of two of the company's independent directors are a sign of dysfunction and will serve to further compromise the board function," Artisan said in a letter.
It follows a separate letter sent on Sunday in which the activist investor opposed the appointment of Stephen Dacus as CEO and called for Seven & i to engage with Alimentation Couche-Tard ATD.TO, which is seeking to acquire it.
Foreign investors including Artisan have for some years pushed the company to focus on its core convenience store business.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
