The head of 7-Eleven convenience stores in Japan survived an attempt by his boss to remove him and emerged as president at Seven & I Holdings Co. His next hurdles: turn around weaker units and navigate a leadership transition at the country¡¯s largest retailer.
Ryuichi Isaka¡¯s promotion Tuesday ended weeks of boardroom drama that resulted in the resignation of Chairman and Chief Executive Officer Toshifumi Suzuki. Activist investor Dan Loeb intervened in a letter dated March 27 ¡ª first reported by Bloomberg News ¡ª saying Isaka should instead be rewarded for Seven-Eleven Japan Co.¡¯s strong results.
The controversy has cast an international spotlight on Seven & I and sparked discussions of Japan¡¯s corporate governance, a pillar of Prime Minister Shinzo Abe¡¯s efforts to invigorate the nation¡¯s economy.
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