Genesco Gets Home Run With Support of All Three Proxy Firms

1 month ago 12

Vicki M. Young

Mon, July 13, 2026 astatine 9:36 AM CDT 2 min read

Genesco Inc. present has the enactment of each 3 autarkic proxy advisory firms, putting it successful bully stance to bushed an activist's propulsion for a revamping of the company's committee astatine this year's yearly shareholders' gathering connected July 21.

Activists Bradley L. Radoff and Jumana Capital Investments said Genesco directors declined to "meaningfully consider" their suggestions to amended shareholder value, aft which they pushed for a proxy combat to regenerate committee directors Joanna Barsh and Thurgood Marshall, Jr., connected grounds they are over-tenured and unqualified, with their ain picks.

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Last week, Genesco received the enactment of autarkic advisory steadfast ISS, advising shareholders to ballot for Genesco's slate for 9 directors lasting for election. ISS reasoned that the "dissidents person not made a compelling lawsuit for change.

On Monday, Genesco said Glass Lewis & Co. and Egan-Jones Proxy Services — 2 different autarkic proxy advisory firms — person besides determined that shareholders should ballot for Genesco's 9 directors connected the "White" proxy card.

"The enactment of each 3 autarkic proxy advisory firms for Genesco's manager candidates reinforces the qualifications and acquisition of our Board, and its progressive oversight of the wide momentum underway arsenic we execute our winning strategy," Genesco said successful a statement. "In their recommendations, each of the proxy advisory firms emphasizes that Bradley Radoff has not made a compelling lawsuit for alteration successful his unnecessary proxy combat astatine Genesco."

Genesco disclosed that Glass Lewis noted successful its study that "available materials bespeak Genesco has much precocious charted a reasonably favorable people nether the stewardship of Ms. Vaughn and the board, underpinned, successful particular, by an iterative strategical inaugural that appears to beryllium driving stronger operational performance, improved capitalist returns and buoyed guidance."

In addition, the study from Egan-Jones concluded that the "recent trajectory of Genesco's fundamentals and operating execution supports maintaining the existent committee creation portion the Footwear First strategy continues to summation traction, peculiarly fixed recovering currency flow, modestly improving profitability, and aboriginal grounds of palmy Journeys repositioning and store remodel performance." Egan-Jones besides noted that the beardown full shareholder instrumentality of Genesco implicit the past twelvemonth "demonstrates marketplace optimism astir the caller strategy."

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