Shareholders approved all proposals at the 7-Eleven’s Japanese parent company’s annual general meeting, greenlighting a dividend hike and the appointments of new CEO Stephen Hayes Dacus and the other board directors. (The Logic)
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Shareholders approved all proposals at the 7-Eleven’s Japanese parent company’s annual general meeting, greenlighting a dividend hike and the appointments of new CEO Stephen Hayes Dacus and the other board directors. (The Logic)
Talking point: With their renewed mandate, Dacus and the board must prove that a U.S. initial public offering will serve investors better than Couche-Tard’s US$47 billion takeover offer. Quebec-based Couche-Tard criticized Seven & i’s turnaround plan in March, saying it wouldn’t provide certainty for shareholders. After Tuesday’s meeting, it appears activist investors aren’t pushing for new leadership at Seven & i just yet, with news outlets like Nikkei and the Japan Times characterizing the meeting as a vote of confidence for Seven & i’s leadership. Couche-Tard, which last month signed a non-disclosure agreement with Seven & i surrounding their negotiations, didn’t immediately respond to a request for comment.
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