Chairman Quits 7-Eleven Owner, a Hedge Fund Target
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Toshifumi Suzuki, center, the chairman of the Japanese conglomerate that owns the 7-Eleven convenience store chain, after a news conference in Tokyo on Thursday. CreditJiji Press, via Agence France-Presse — Getty Images
TOKYO — The chairman of the Japanese conglomerate that owns the international convenience store chain 7-Eleven abruptly resigned on Thursday, after the company’s board sided with a subordinate in a succession dispute.
The fight has been roiling the parent company, Seven & I Holdings, one of the world’s largest retail groups, which also has interests in supermarkets and department stores. It has put Seven & I Holdings in the cross hairs of a prominent American hedge fund, Third Point, which had criticized the chairman’s leadership…
Chairman Quits 7-Eleven Owner, a Hedge Fund Target
