• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»ISS backs all four ValueAct director candidates in Seven & I boardroom fight
Business

ISS backs all four ValueAct director candidates in Seven & I boardroom fight

May 9, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

NEW YORK, May 9 (Reuters) – Proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday backed ValueAct Capital’s boardroom challenge at Japanese convenience store operator Seven & i Holdings (3382.T) by recommending shareholders elect all four of the U.S. investment firm’s director candidates.

ValueAct, which owns 4.4% of Seven & i, has long criticized the company’s conglomerate structure and recently ratcheted up the pressure by publicly calling for its president and CEO, Ryuichi Isaka, to be among those replaced on the board.

“Incumbents Isaka, (Katsuhiro) Goto and (Toshiro) Yonemura should be held responsible for past underperformance,” the report said. “A vote AGAINST company nominees Isaka, Goto, Yonemura, (Shinji) Wada and (Fuminao) Hachiuma is warranted.”

ISS said ValueAct is calling for a deliberate succession process for the CEO.

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.

On Tuesday, ISS extended support for ValueAct’s campaign by endorsing all of its candidates and spelling out where the company has faltered.

“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. Insiders have created the strategic plan which leaves execution to the same management, ISS wrote, adding “this is not reassuring for investors.”

ValueAct said it welcomed the ISS recommendation. “A vote for ValueAct’s nominees will deliver what shareholders have requested for years – an objective Strategic Review, a careful President Succession process, strengthened governance practices, and the appointment of an independent Chair,” the firm said in a statement.

See also  Moody's analyst sees polarization around US budget issues persisting next year

Seven & i Holdings did not have an immediate comment.

Investors will be able to vote on the dissident director candidates on May 25 unless the two sides settle their differences before then.

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.

“The counterintuitive results of the latest strategic review raise questions about the current board’s ability to hold management accountable and instill a sense of urgency into reforms,” ISS wrote.

ISS said that ValueAct’s nominees bring board experience, capital allocation and executive experience, and Levinson would add a shareholder perspective.

ValueAct has experience on boards at Japanese companies, having won seats at Olympus and JSR Corp.

Reporting by Svea Herbst-Bayliss

: .

Backs boardroom Candidates director Fight ISS ValueAct
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

South Korea export downturn slows, trade balance swings to surplus

July 2, 2023

Lawmakers Can’t Let Single-Payer Health Care Cross The Border—Or The Pond

September 5, 2023

With Starlink and Satellite Launches, Mongolia’s Digital Transformation Reaches a Milestone

March 5, 2024

Why Vietnam’s State-Owned Electric Utility EVN is in Financial Trouble

March 7, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

$250m Boost Too Little For England’s Public Health Service: Experts

September 14, 2023

Trump Awarded Over $100,000 From Stormy Daniels Right Before Arraignment Begins

April 4, 2023

Uniqlo parent raises full-year outlook; sees China recovering

April 14, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.