Japan's Seven & i announces restructuring, new CEO to fend off $47 billion takeover bid

Business

TOKYO :Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store chain, appointed its first foreign CEO and handed him the task of overhauling its business to fend off a $47 billion overseas takeover bid and engineer a recovery. After a tumultous six months that began when it received a buyout offer from Canadian Circle-K operator Alimentation Couche-Tard (ACT), Seven & i announced its most far-reaching leadership and business restructuring on Thursday. Lead outside director