Japan’s 7-Eleven owner has hired a former Uber exec as it looks to expand its business in other parts of the world.
Tokyo (Japan), Reuters says one of the people Seven & I Holdings Co has asked to join its board of directors is a former employee of Uber Technologies (NYSE: UBER).
On May 26, shareholders will decide if Elizabeth Miin Meyerdirk, a founding member of Uber Eats, can become a new outside director for the 7-Eleven chain. If they do, she will join as an outside director.
The company said this month that it would look for growth outside of Japan, especially in North America. It would also expand online shopping and delivery services in Japan.
Seven and I said this month that it would change the board so that most of the members were from outside the company, which would help it grow outside of Japan.
In the United States, an activist fund called ValueAct Capital has been telling it to change the board and get rid of bad assets. It has a stake of 4.4%.
If Seven & I focused on its convenience stores, its share price could more than double. That’s what the fund said.
