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  "documentTitle": "ValueAct Seven i Holdings Presentation February 2022",
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      "kind": "list",
      "text": "The governance of Seven & i Holdings could improve in two ways that are well accepted as modern global standards:",
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      "text": "We believe the governance structure of Seven & i Holdings is dysfunctional, with distant relationships between the holding company and its subsidiaries, an overly complex organizational structure, infighting, and a Board that cannot act independently from management’s conflicted interests",
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      "text": "Seven & i claims it has built a structure between the holding company and key subsidiaries which enables “smooth decision-making”, most recently in its public response to ValueAct, but there is ample long-term evidence that this is not the case",
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      "text": "Transition from a complex holding company management structure to a globally coordinated management structure focused on 7-Eleven",
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      "text": "Transition from a majority of Inside Directors with conflicts of interest to a Board with a majority of Outside Directors that can objectively assess strategy",
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