Shareholders of Japanese retail giant Seven & i Holdings Co. on Thursday approved the reappointment of Ryuichi Isaka as president, rejecting a demand by a U.S. activist fund for the removal of the top executive in a high-profile proxy fight.ValueAct Capital Management LP claims the management needs to do more restructuring for a greater focus on the retailer's mainstay 7-Eleven convenience store business and sought at an annual shareholders' meeting to replace four board members, including Isaka, with candidates it selected.But the proposal was rejected, with the majority of the shareholder…READ FULL ARTICLE
