7/21/2026
Genesco Shareholders Re-elect All Nine Board Directors After Proxy Fight
Women's Wear Daily (07/21/26) Young, Vicki
Genesco Inc. (NYSE: GCO) got a big win on Tuesday at its Annual Shareholders’ Meeting after they voted to re-elect all nine board directors who stood for re-election. The shareholder votes effectively ended a push for board change. The director nominees re-elected to the board were Gregory Sandfort, Mimi Vaughn, Joanna Barsh, Matt Bilunas, Carolyn Bojanowski, John Lambros, Thurgood Marshall, Jr., Angel Martinez, and Mary Meixelsperger. “We greatly appreciate the strong support of Genesco’s shareholders in electing all nine of the Company’s directors, and the confidence they have shown in our Board, management team and Footwear First strategy to create shareholder value. We are advancing our four strategic growth drivers — curate and create winning product; elevate distinctive brands; create exceptional customer experiences; and build amazing teams. Our full focus is on continuing to build on the clear momentum our organization has underway. We are confident in our path forward and excited to capitalize on the opportunities we see ahead for our brands,” Genesco said in a statement Tuesday. Just prior to the shareholders’ meeting, Genesco received the support of all three independent proxy advisory firms, putting it in good stance to beat an activist’s push for a revamping of the company’s board at this year’s annual shareholders’ meeting on July 21. Bradley L. Radoff and Jumana Capital Investments said Genesco directors declined to “meaningfully consider” their suggestions to improve shareholder value, after which they pushed for a proxy fight to replace board directors Joanna Barsh and Thurgood Marshall, Jr., on grounds they are over-tenured and unqualified, with their own picks. Earlier this month, Genesco received the support of independent advisory firm ISS, advising shareholders to vote for Genesco’s slate for nine directors standing for election. ISS reasoned that the “dissidents have not made a compelling case for change. That was followed by information from Genesco that Glass Lewis & Co. and Egan-Jones Proxy Services — two other independent proxy advisory firms — have also determined that shareholders should vote for Genesco’s nine directors on the “White” proxy card. “The support of all three independent proxy advisory firms for Genesco’s director candidates reinforces the qualifications and experience of our Board, and its active oversight of the clear momentum underway as we execute our winning strategy,” Genesco said in a statement. “In their recommendations, each of the proxy advisory firms emphasizes that Bradley Radoff has not made a compelling case for change in his unnecessary proxy fight at Genesco.” Genesco disclosed that Glass Lewis noted in its report that “available materials indicate Genesco has more recently charted a reasonably favorable course under the stewardship of Ms. Vaughn and the board, underpinned, in particular, by an iterative strategic initiative that appears to be driving stronger operational performance, improved investor returns and buoyed guidance.” In addition, the report from Egan-Jones concluded that the “recent trajectory of Genesco’s fundamentals and operating execution supports maintaining the current board composition while the Footwear First strategy continues to gain traction, particularly given recovering cash flow, modestly improving profitability, and early evidence of successful Journeys repositioning and store remodel performance.” Egan-Jones also noted that the strong total shareholder return of Genesco over the past year “demonstrates market optimism around the new strategy.” The Nashville-based shoe firm in May posted a first quarter net loss of $14.81 million on a net sales increase of 3 percent to $487.03 million. And last month, the owner of the Journeys chain named Jonathan Collins as its new senior vice president, finance and chief financial officer, starting Aug. 3. He succeeds former finance chief Cassandra “Sandra” Harris. Collins will report to Vaughn.
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