Japanese retailer Seiyu, which has recently stepped up its cooperation with global retail giant Wal-Mart of the US, today [Tuesday] said it would find seats for five officials from the US company on its board of directors.
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The five Wal-Mart executives hold senior posts within the company’s international operations. They include Wal-Mart International President John Menzer and Wal-Mart Asia President Joe Hatfield.
Wal-Mart last month exercised the first of a series of stock purchasing options to buy up to 66.7% of the Japanese retailer’s shares by 2007. The move made it Seiyu’s largest single shareholder.
