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Artisan says Seven & I independent director resignations show board dysfunction
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Artisan says Seven & I independent director resignations show board dysfunction
Mar 12, 2025 5:27 PM

TOKYO, March 13 (Reuters) - Artisan Partners, a

U.S.-based investor in Japan's Seven & i ( SVNDF ), 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 ( SVNDF ) to engage with Alimentation

Couche-Tard ( ANCTF ), 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.

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