Bloomberg: ”Loeb Prevails in Latest Crusade to Reform Corporate Japan”

”The idea of an octogenarian CEO in questionable health ousting a potential successor to make way for his own son would be met by hackles, maybe even outright laughter, by many corporate governance experts and shareholder activists in the U.S. and Europe.

Yet that’s what Dan Loeb accused Seven & i Holdings Co. Chief Executive Officer Toshifumi Suzuki of having in mind for Japan’s biggest retailer, which operates the Seven-Eleven, Denny’s and Ito-Yokado retail brands. Suzuki, 83, might have succeeded were it not for a shaming campaign by Loeb, the billionaire activist investor and founder of hedge fund Third Point LLC…………..”

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Source: Bloomberg

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