U.S. Fund Opposes Seven & i's CEO Appointment

Tokyo, March 10 (Jiji Press)--U.S. investment fund Artisan Partners Asset Management has expressed opposition to Seven & i Holdings Co.'s appointment of outside director Stephen Hayes Dacus to its next president and CEO, the Japanese retailer said Monday.

Seven & i said in a statement, "We are disappointed that Artisan has prejudged our commitment to pursuing all paths to unlock shareholder value without knowing all the facts."

In a letter sent to the board of Seven & i, Artisan also asked the company to reconsider a takeover proposal from Canadian convenience store chain Alimentation Couche-Tard Inc., according to the Japanese retailer.

Seven & i also said that it has called on Couche-Tard to consider such steps as selling more than 2,000 of its stores in the United States, in a bid to resolve antitrust concerns.

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