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Loeb's Third Point Warns Seven & I on Nepotism for Next CEO

  • CEO Toshifumi Suzuki may have his son succeed him, Loeb says
  • Seven-Eleven Japan's Isaka should be `a leading candidate'
Bloomberg business news

Inside Dan Loeb's Activist Stance in Japan

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Third Point LLC’s billionaire founder Daniel Loeb has made Seven & i Holdings Co. his latest target for criticism of management succession planning, warning the Japanese grocery and retail group against letting nepotism determine its next chief executive officer.

Seven & i CEO Toshifumi Suzuki, 83, is having chronic health problems and investors fear he may try to name his son, Yasuhiro Suzuki, to lead Seven‐Eleven Japan and eventually become president of Seven & i, Loeb wrote in a letter to the company dated Sunday. Ryuichi Isaka, the current president of Seven‐Eleven Japan, should be a leading candidate for the position, and instead may be demoted, Loeb said.