Parag Desai Named Chief Strategy And Digital Officer At Genesco
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NASHVILLE, Tenn., May 12, 2021 /PRNewswire/ Nashville-based Genesco Inc. (NYSE: GCO) announced that Parag Desai has been named Genesco s senior vice president - chief strategy and digital officer. He previously served as senior vice president, strategy, and shared services since December 2014.
Parag Desai, Senior Vice President, Chief Strategy and Digital Officer, Genesco Inc.
In this newly created role, Desai will continue to provide critical leadership in executing Genesco s footwear focused strategy and building its shared technology, logistics and analytics platforms. Since joining Genesco in 2014, Desai has overseen the continued advancement of Genesco s technology and the acceleration of our supply chain and driven critical corporate initiatives and business development opportunities. Genesco s past digital and supply chain investments allowed the co
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In Shakeup Bid, Legion Partners Nominates 7 Candidates to Genesco Board April 14, 2021 at 3:36 PM EDT By Jessie Dowd
5.6% of the outstanding common shares of
Genesco Inc., wants to hold the current Board accountable for what it calls “years of chronic underperformance” by nominating its own new members. Genesco is a footwear and accessories retailer operating more than
1,475 stores in the U.S., Canada, the UK and the Republic of Ireland under banners including
Journeys,
Johnston & Murphy.
Legion Partners issued a letter to shareholders in connection with its nomination of seven independent individuals for election to the company’s Board of Directors at the 2021 Annual Meeting of Shareholders. The nominations include Marjorie L. Bowen, Thomas M. Kibarian, Margenett Moore-Roberts, Dawn H. Robertson, Patricia M. Ross, Georgina L. Russell and Hobart P. Sichel.
Dive Brief:
Citing chronic underperformance, an activist investor is looking to replace the majority of Genesco s board with seven directors of its choosing.
In an 18-page letter, leaders of Legion Partners, which owns 5.6% of Genesco, questioned the company s conglomerate structure, which in their view has resulted in a string of poor acquisition decisions that has led to an increasingly bloated cost structure and corporate overhead.
Genesco said it would review the seven directors nominated by Legion Partners. In a statement, the company disagreed with many of Legion s assertions while touting the company s footwear-focused strategy, response to COVID-19 disruption and highly engaged board.