May 24, 2016 / 11:46 PM / 2 years ago

Seven & I to name outgoing CEO Suzuki as honorary adviser -source

TOKYO, May 25 (Reuters) - Seven & I Holdings Co will appoint outgoing CEO Toshifumi Suzuki as honorary adviser, a source with knowledge of the decision said on Wednesday, as speculation swirled over what role he would play after two decades at the helm of the $90 billion retail conglomerate.

The former leader made a surprise announcement last month to quit after failing to oust Ryuichi Isaka, head of the successful Seven-Eleven Japan convenience store chain. Isaka has been elected to replace Suzuki, pending approval at an annual shareholders meeting on Thursday.

Isaka has said he wanted his predecessor to become an adviser to the company.

A Seven & I spokesman declined to comment.

There has been concern both inside and outside the company that Suzuki would retain significant influence, potentially diluting the power of the new chief. (Reporting by Ritsuko Shimizu; Writing by Taiga Uranaka; Editing by Chang-Ran Kim)

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