Genesco Inc. (GCO) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of Genesco, Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Mr. Bob Dennis. Executive Chairman of Genesco. Mr. Dennis, the floor is yours.

Good morning. I'm Bob Dennis, and it's my pleasure, as Executive Chairman, to welcome you to Genesco's 2020 Annual Meeting of Shareholders held this year virtually for all the obvious reasons. With me today on the call is Mimi Vaughn, our President and Chief Executive Officer; our senior management team and our fellow directors. Ernst & Young, our independent auditors, are also represented today and will be available to take questions during the question-and-answer period. Notice of this meeting was provided to shareholders as of the record date, April 27, 2020. Therefore, the meeting has been duly called. We have received proxies representing more than a majority of the outstanding shares. Therefore, a quorum is present and the meeting is properly convened. Computershare Trust Company has been appointed the inspector of election for this meeting. And now we will turn to the business of the meeting. If you have not already voted your shares or wish to change your vote, you may do so by clicking on the Cast Your Vote button on the virtual meeting webcast. [Operator Instructions] Our first agenda item is the election of 7 directors. The nominees are: Joanna Barsh; Matthew C. Diamond; Marty G. Dickens; Thurgood Marshall Jr.; Kathleen Mason; Kevin P. McDermott; and Mimi Vaughn. Our second item on the agenda is a nonbinding advisory vote on the company's executive compensation. Our third item on the agenda is a proposal to approve Genesco 2020 Equity Incentive Plan. And the final agenda item is the ratification of the Audit Committee's retention of Ernst & Young LLP as the company's independent registered public accounting firm for this fiscal year. Are there any questions regarding these proposals or for Ernst & Young? There being no questions, I will now declare the polls closed and request that the inspector certify the results. The inspector of election has given me the preliminary voting results. First, each of the director nominees has received the plurality of the votes cast. Therefore, the slate of directors is elected. Second, a majority of the votes cast were in favor of the approval of executive compensation. Third, a majority of the votes cast were in favor of the approval of Genesco's 2020 Equity Incentive Plan. As a result, the Equity Incentive Plan is approved. And finally, a majority of votes represented at the meeting were cast in favor of ratification of the appointment of Ernst & Young. The appointment is ratified. An exact tabulation of those will be included in a Form 8-K filed by the company with the Securities and Exchange Commission within 4 business days. Before we wrap up, 2 last items. First, the company extends its deep appreciation to Jim Bradford, our former Lead Director, for his extraordinary contributions to Genesco. After 15 years, Jim is leaving the Board, but has left a legacy of thoughtfulness, wisdom and leadership through a multitude of critical events. Thank you, Jim, for all you've done for us. Second, I am leaving the Board as well. I want to thank this Board and past Board colleagues, my management peers and all the fabulous employees of this great company for: first, the privilege of leadership; second, for their dynamic and unwavering support along the way; and third and most importantly, for their friendship. And with that said, there being no further business to be brought before this meeting, I declare it adjourned.

This concludes the meeting. You may now disconnect.