Seven & i Holdings Announces New Board to Drive Corporate Growth
The newly elected board includes independent directors with strong industry backgrounds.
The company emphasizes its commitment to maximize shareholder value.
Seven & i Holdings Co., Ltd. ("Seven & i," or "the Company") has recently shared an important message with its shareholders about the nomination of a new slate of board members aimed at unlocking significant shareholder and corporate value. This update has been made available on a dedicated website that compiles essential information regarding board changes and the company’s strategic goals.
Dear Valued Shareholders of Seven & i,
Today, we are excited to present our nominated directors who will stand for election at the upcoming Annual General Meeting, emphasizing our dedication to enhancing shareholder and corporate value.
As part of our strategy, we are pursuing two distinct yet complementary paths: a comprehensive plan designed to create growth and maximize value. The first segment of this initiative was initially revealed earlier this year and will further develop in collaboration with Alimentation Couche-Tard ("ACT").
This strategic plan encompasses a series of transformative leadership and capital initiatives that focus on long-term growth and boosting returns for our shareholders. As part of this approach, we are pleased to announce the initiation of a share repurchase program, projected to reach up to ¥600 billion for the fiscal year.
Moreover, an independent Special Committee, chaired by Paul Yonamine, is actively engaging with ACT to explore avenues for potential negotiations and to achieve regulatory approval concerning a potential sale.
We are excited to pursue this roadmap for value creation with our distinguished nominees leading the charge on behalf of our shareholders and stakeholders.
The proposed board slate consists of eight independent directors, which reflects a substantial increase in the representation of independent directors compared to the previous year.
Four of these directors are new to Seven & i and bring a wealth of expertise that aligns with our business objectives. They have extensive experience across various sectors essential to our growth strategy, including retail, food services, fuel distribution, and global expansion. Their insights will be invaluable as we continue to pursue our goals.
Profiles of New Board Members
Takashi Sawada: Previously CEO of CellSource and former President of FamilyMart, he brings extensive executive leadership experience, especially in overseas expansion and franchise management.
Masaki Akita: A prominent figure in retail and marketing with leadership roles in Matsuya, he is known for enhancing governance best practices.
Tatsuya Terazawa: With significant expertise in energy economics and international trade, his insights will contribute to our understanding of sustainability and risk management.
Christine Edman: Former President of H&M Japan, she has in-depth knowledge of global retail trends and digital transformation in branding.
Continuing our oversight, we will maintain the separation of the Chairperson and CEO roles, which bolsters corporate governance and enhances transparent decision-making.
Fuminao Hachiuma has been appointed as Chairperson of the Board and will facilitate dialogue between the independent directors and management while ensuring continuous engagement with shareholders.
We are also committed to building a strong management team with Junro Ito, a member of the founding family, assuming the role of Executive Chair, alongside Shigeki Kimura, who brings extensive experience from SEVEN-ELEVEN Japan.
Additionally, Stephen Hayes Dacus is set for a renomination and will be appointed President and CEO after the AGM, leveraging his rich background in operational management to further steer the company.
With a revitalized leadership structure and the inclusion of seasoned directors, we are determined to act swiftly and effectively to improve shareholder value.
We are committed to strategically enhancing our approach to shareholder value and effective governance and are looking forward to the Annual Meeting.
Sincerely,
Seven & i Holdings Board of Directors
For Media Inquiries:
Kekst CNC
In Tokyo:
Jochen Legewie
For more information and inquiries, please contact our media representatives directly.
Frequently Asked Questions
What recent changes have been made to the board?
The board has appointed several new independent directors with deep industry expertise to help drive corporate growth and shareholder value.
What is the significance of the dual-path strategy?
This strategy balances a standalone growth plan with engagement in potential partnerships to maximize overall value for shareholders.
How will the new directors impact Seven & i?
The new directors bring diverse experiences and insights that are expected to enhance the company’s decision-making and drive business growth.
What is the company's primary focus moving forward?
Seven & i is focused on long-term growth, improving capital return, and strengthening engagement with all stakeholders.
When is the Annual General Meeting scheduled?
The Annual General Meeting will take place soon, providing shareholders with an opportunity to engage with the company’s leadership.
