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Genesco Names Chief Financial Officer

Genesco Inc. announced that Thomas A. George has been named senior vice president, finance, and chief financial officer. elevating his role from the interim position he has held since December 2020.

Inside The Call: Genesco Shows Robust Q2 Recovery But Warns On Freight Costs

Genesco Inc.’s recovery gained further momentum in the second quarter with strong gains at Journeys and its U.K.-based Schuh chain, but officials warned that supply chain disruption continues to deplete inventory levels and is expected to drive higher freight costs in the quarters ahead. Said Mimi Vaughn, president and CEO, “We’re seeing good product flow right now, but it’s lower than we would like.”

Genesco Delivers Record Second Quarter

Genesco Inc. delivered record second-quarter profitability for its footwear businesses that far exceeded expectations. Sales were up 25 percent at Journeys, up 48 percent at Schuh, and ahead 154 percent at Johnston & Murphy.

Genesco Shareholders Re-Elect All Company Director Nominees At Annual Meeting

Genesco Inc. announced that, based on a preliminary vote count by its proxy solicitor, shareholders have voted overwhelmingly to re-elect all nine of Genesco’s director nominees to the Board of Directors at its 2021 Annual Meeting of Shareholders. A group of activist investors, led by Legion Partners Asset Management, had been urging shareholders to vote for four of its nominees.

Genesco Earns Egan-Jones Endorsement

Egan-Jones Proxy Services has joined Institutional Shareholder Services in recommending that Genesco shareholders vote for the company’s director nominees at its July 20 annual meeting.

Shareholder Advisory Firm Backs Genesco’s Board Picks

Genesco Inc. said that Institutional Shareholder Services (ISS), an independent provider of proxy research and vote recommendations to the institutional investment community, has recommended that Genesco shareholders vote for all nine of the company’s director nominees at Genesco’s annual meeting on July 20. Legion Partners, the activist shareholder group, described ISS’s recommendation as “contradictory” and continued to push for changes to the board.

Genesco Issues Letter To Shareholders Ahead Of Annual Meeting

Genesco Inc. filed its proxy materials with the Securities and Exchange Commission in connection with the company’s Annual Meeting of Shareholders that included a letter urging shareholders to vote for its Board’s nominated slate of directors. The move comes as the retailer faces a proxy fight against an activist investor.

Activist Shareholder Urges Genesco Board’s To Expand Nomination Slate

Legion Partners Asset Management, the activist shareholder group, issued a statement urging Genesco Inc.’s Board to use a universal proxy card that would let shareholders choose from available candidates rather than pick the incumbent or challenger slates. The move comes after Genesco, on May 23, elected three new board members that included none of the seven candidates Legion Partners had proposed.

Genesco Appoints Three New Independent Directors, Rejects Activist’s Slate

Genesco Inc. appointed three retail industry veterans, including Angel Martinez, the former CEO of Deckers Brands, to its Board, but none of the candidates nominated by an activist investor seeking to take control of the board. The other two new board members are Mary Meixelsperger, CFO, Valvoline and former CFO of DSW; and Greg Sandfort, former CEO of Tractor Supply Company.