NEW YORK : Proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday backed ValueAct Capital's boardroom challenge at Japanese convenience store operator Seven & i Holdings by recommending shareholders elect all four of the U.S. investment firm's director candidates.ValueAct, which owns 4.4
NEW YORK : Proxy advisory firm Institutional Shareholder Services on Tuesday backed ValueAct Capital's boardroom challenge at Japanese convenience store operator Seven & i Holdings by recommending shareholders elect all four of the U.S. investment firm's director candidates.
"Incumbents Isaka, Goto and Yonemura should be held responsible for past underperformance," the report said."A vote AGAINST company nominees Isaka, Goto, Yonemura, Wada and Hachiuma is warranted."Since March, ValueAct has publicly pushed for shareholders to replace four directors on the 14-member board with its nominees, including the firm's sustainability chief, Brittni Levinson.
"Based on the long-term track record of poor performance in several units and poor capital allocation, change in the board is warranted," ISS wrote in its report, which was seen by Reuters.ValueAct and other investors had urged the company to undertake a strategic review and consider spinning off its 7-Eleven chain or selling the entire company. The company elected to close additional supermarket stores in Japan and fully exit its apparel business as part of a structural reform plan.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BigBang, Super Junior, 2NE1 turn up at star-studded wedding of Seven and Lee Da-haeSEOUL – After dating for more than eight years, South Korean actress Lee Da-hae, 39, and singer Seven, 38, have tied the knot in a wedding attended by K-pop and K-drama stars. The glitzy event last Saturday (May 7) at luxury hotel The Shilla Seoul had a guest list which included many boy band members – BigBang’s Taeyang, Daesung and...
Read more »
Actress Lee Da-hae marries singer Seven in wedding attended by BigBang and Super Junior membersSEOUL – After dating for more than eight years, South Korean actress Lee Da-hae, 39, and singer Seven, 38, have tied the knot in a wedding attended by K-pop and K-drama stars. The glitzy event last Saturday at luxury hotel The Shilla Seoul had a guest list which included...
Read more »
Brussels plans to slap sanctions on Chinese companies aiding Russia’s war machine: Financial TimesSeven Chinese businesses have been listed in a new package of sanctions. Read more at straitstimes.com.
Read more »
Andretti expects mid-July decision on planned new F1 teamMIAMI : Michael Andretti said on Sunday he expects to know in mid-July whether he can enter Formula One with a new American team from 2025.Andretti, son of 1978 world champion Mario, told Sky Sports television at the Miami Grand Prix that the paperwork was being submitted to the governing FIA this week.
Read more »
Chile holds vote to elect new body to rewrite constitutionSANTIAGO: Chileans voted on Sunday (May 7) to elect the 50 members of a committee that will write a new constitution to replace the dictatorship-era one that has been in vigor for more than 40 years. It is the second time that Chileans have been called to take part in the rewriting of the 1980 constitution
Read more »
Yusoff gets brand new chanceJockeys can ill-afford to let their guard down from the moment the gates spring open, all the way to the winning post. In a sport where 500kg speedballs duck and weave between restricted room and needlehole gaps at 65kmh, those pint-sized super athletes need to be fit and...
Read more »