SAN FRANCISCO , April 18, 2024 /PRNewswire/ -- ValueAct Capital ("ValueAct"), a global investment firm that has been a major shareholder of Seven & i Holdings ("Seven & i") since 2020, today expressed support for recent announcements by Seven & i:

• ValueAct supports the recommendations of the Strategy Committee of Seven & i including its conclusion that a separation of 7-Eleven from the Superstore business is in the best long-term interests of both businesses, their employees and shareholders.
• ValueAct supports the pursuit of an IPO and ultimately the deconsolidation of the Superstore business as one workable option to accomplish this strategic conclusion.
• ValueAct supports the separation of the Chairman and CEO roles at Seven & i and the appointment of the Mr. Stephen Dacus , who also chairs the Strategy Committee, as Chairman of the Board.
• ValueAct will vote in favor of Seven & i's board nominees at the 2024 AGM.

ValueAct issued the following statement from Co-CEO Rob Hale :

"As long-term shareholders of Seven & i, we are encouraged by the strategic steps and governance changes that the board and management have just announced. We believe these changes will enhance shareholder value and strengthen both the global 7-Eleven franchise and the Superstore business.

It is a wise decision to separate the Chairman and CEO roles as a corporate governance best practice. Furthermore, we believe the appointment of Mr. Dacus as Chairman of the Board is a logical step to ensure the Strategy Committee's recommendations will be carried out.

We would like to express our appreciation for the constructive discussions we have had with Seven & i's leadership, Board, and Strategy Committee. We are excited about the transformation and growth agenda that is underway at Seven & i."

About ValueAct Capital

ValueAct Capital, established in 2000, is a global investment firm managing capital on behalf of some of the world's largest institutional investors. ValueAct seeks to identify and invest in high-quality businesses that are temporarily under-valued, taking a patient, collaborative and constructive approach to value-building for all stakeholders, often partnering with executives and board members. Since 2017, ValueAct has been a significant investor in the Japanese public equity markets. In the firm's history, partners of ValueAct have served on over 55 public company board seats, including on the board of two Japanese public companies. For more information, please see https://valueact.com.

View original content to download multimedia: https://www.prnewswire.com/news-releases/valueact-announces-support-for-the-substantial-changes-in-strategy-and-board-leadership-announced-by-seven--i-302120612.html

SOURCE ValueAct Capital