Lotte Holdings Co. will convene an extraordinary shareholders meeting on March 6 at its headquarters in Tokyo amid a feud between the sons of the company founder over their control of the company, a person close to the founder's eldest son, Hiroyuki Shigemitsu, said Monday.

Shigemitsu, who was dismissed as the holding company's vice chairman in January 2015, has requested the meeting to remove current board members, including his younger brother, who is the current vice chairman.

Shigemitsu will propose at the meeting that new board members be appointed, including himself, according to the person. Shigemitsu is seeking to become the company's chief executive officer under his management plan.

The shareholders meeting was scheduled by the current management, and Shigemitsu and other shareholders were subsequently notified of the event.

Shigemitsu's proposal must be approved by a majority of shareholders with voting rights for it to see the light of day. Its success depends on whether it can muster the support of an employee stockholding group that has a roughly 30 percent stake in the company.

Shigemitsu has been intensifying efforts to win the support of the employees' group by proposing the establishment of a ¥100 billion fund to provide welfare and other benefits to Lotte group employees.