▷ ValueAct publishes open letter to the board of Seven & i Holdings

26.01.2022 – 18:16

ValueAct Capital

San Francisco (ots/PRNewswire)

Brief complains about a lack of strategic alignment

Dramatic underperformance

Urgent need for direct shareholder participation

ValueAct Capital (“ValueAct”), a global investment firm with a position of approximately 4.4% of the outstanding shares of Seven & i Holdings (“Seven & i”), which has engaged with the Company since 2020, announced today an open Letter (see attachment) to the board of Seven & i, asking them to:

  1. Urgently conduct a series of hearings to obtain direct input from shareholders on key strategic issues, and
  2. Establish a strategy review committee composed of external directors, reporting to stakeholders by the end of April 2022

ValueAct has a unique 21-year experience in helping companies to successfully transform and create long-term value through private dialogue and building constructive relationships. ValueAct rarely goes public, but has taken this step because it believes that Seven & i lacks strategic direction, has an ineffective management structure and is dramatically under-achieving its potential. Despite constructive engagement since 2020, ValueAct has lost confidence in management’s ability to set a value-enhancing strategic course without direct and public input from independent shareholders

Attached: Open Letter to the Board of Directors of Seven & i Holdings

About ValueAct Capital (VAC) Founded in 2000, ValueAct Capital is a global investment firm that manages capital on behalf of some of the world’s largest institutional investors. The company’s goal is to transform companies and help them become global champions of the 21st century. VAC seeks to identify and invest in high quality companies that are temporarily undervalued. In doing so, she follows a patient, cooperative and constructive approach in order to create value for all participants with long-term investments. The company typically holds 10 to 18 investments at any given time and ValueAct Capital’s in-house team has a track record of more than 50 board seats at public companies. For more information, see https://valueact.com/. The full letter can be found below https://valueact.com/presentations/.

Logo – https://mma.prnewswire.com/media/1733846/valueact_capital_Logo.jpg

PDF – https://mma.prnewswire.com/media/1733931/open_letter_to_board_of_Seven___i_Holdings.pdf

Press contact:

ValueAct Capital,
[email protected]

Original content from: ValueAct Capital, transmitted by news aktuell


Leave a Reply

Your email address will not be published.