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.