Genesco Inc. - GCO STOCK NEWS

Legion Partners Asset Management, owning approximately 5.9% of Genesco (GCO), criticized the company's Board for a misleading letter to shareholders. Legion emphasizes their engagement efforts and the Board's failure to address governance issues, including poor director performance and excessive spending on defense consultations. They express a willingness to negotiate and push for a meaningful refresh of the Board, citing the need to replace long-tenured directors, particularly Matthew C. Diamond, due to underperformance and questionable governance practices. Legion aims to enhance shareholder value.

Genesco Inc. (NYSE: GCO) released a letter from its Board of Directors responding to Legion Partners Asset Management's mischaracterizations regarding efforts to avoid a proxy fight. The letter outlines Genesco's attempts to engage with Legion and their commitment to shareholders. Genesco urges shareholders to vote the BLUE proxy card in favor of its directors ahead of the Annual Meeting on July 20, 2021. The company emphasizes its collaborative approach and urges shareholders to review the full letter for detailed insights.

Legion Partners Asset Management, owning approximately 5.9% of Genesco's shares, released a presentation countering misleading information from Genesco's June 23, 2021 materials. They advocate for the election of four nominees to Genesco's Board during the July 20, 2021 Annual Meeting, emphasizing the need for change due to board members’ long tenures and questionable governance. They argue for new leadership that can effectively guide Genesco amid rapid retail and footwear industry changes, promoting a strategy focused on efficiency, growth, and stakeholder engagement.

Genesco Inc. (NYSE: GCO) has filed an investor presentation with the SEC, highlighting its strong footwear strategy and urging shareholders to vote for its nine director nominees at the upcoming Annual Meeting on July 20, 2021. Key performance indicators include record digital revenues and a 9% revenue increase in Q1 FY2022 compared to Q1 FY2020. Genesco's Board features independent directors with relevant experience, essential for long-term value creation. The company criticizes Legion's campaign for board changes, citing risks associated with their underqualified nominees.

Legion Partners Asset Management, owning 5.9% of Genesco's shares (NYSE: GCO), has shared a presentation advocating for significant changes to Genesco’s board ahead of the July 20, 2021, Annual Meeting. The presentation criticizes the current governance, highlighting issues like stale directors, poor corporate structure, and chronic underperformance. Legion Partners seeks to replace four long-serving directors, arguing this will pave the way for operational improvements and value creation, targeting earnings per share of at least $13 and a share price over $100 in three years.

Genesco Inc. (NYSE: GCO) announced in a letter to shareholders that its Board of Directors has been refreshed, emphasizing a mix of skills to support its footwear-focused strategy and enhance long-term shareholder value. The company encourages shareholders to vote for all nine Board nominees using the BLUE proxy card ahead of the Annual Meeting scheduled for July 20, 2021. Shareholders of record as of June 28, 2021, are eligible to vote. For more information, visit the Genesco proxy materials online.

Legion Partners Asset Management, owning approximately 5.9% of Genesco's shares, has issued a letter urging shareholders to vote on a WHITE proxy card to elect four directors to the Board. The letter criticizes the current executive compensation structure, alleging misalignment with shareholder interests, particularly under the leadership of Compensation Committee members who have overseen poor performance. Legion Partners advocates for candidates who will enhance transparency and tie executive pay more closely to performance metrics, aiming to improve operational effectiveness and shareholder value.

Legion Partners Asset Management, owning approximately 5.9% of Genesco's common shares (NYSE: GCO), has filed a definitive proxy statement urging shareholders to vote for its nominees for the company's Board of Directors at the Annual Meeting on July 20, 2021. The firm criticizes Genesco's long-tenured Board for a decade of underperformance and delays related to the Annual Meeting. Legion emphasizes the need for fresh perspectives and governance expertise to address the company's stagnation and suggests that the current Board's actions appear defensive and self-preserving.