Genesco promotes Mimi Eckel Vaughn to president, chief executive officer
today Nov 5, 2019
Footwear and accessories retailer Genesco Inc. has promoted Mimi Eckel Vaughn, the company’s current senior vice president and chief operating officer, to the role of president and chief executive officer, effective February 2, 2020.
Vaughn was also added to Genesco's board of directors as of October 30.
In her new role, she will succeed Robert J. Dennis, the company’s current chairman, president and chief executive officer, who will continue to serve as Genesco’s executive chairman.
Vaughn first joined Genesco as vice president of strategy and business development in 2003. During her time with the company, she has served as senior vice president of strategy and business development and as senior vice president of strategy and shared services, before being named chief operating officer in January 2018.
She formally assumed the role in May, following the appointment of Mel Tucker as chief financial officer.
Before joining Genesco, Vaughn served as executive vice president of business development and marketing, and acting chief financial officer for Link2Gov Corporation. From 1993 to 1999, she was a consultant at McKinsey & Company, where she advised senior executives and board members, specializing in the consumer and retail sectors. Prior to McKinsey, Vaughn held corporate finance positions at Goldman Sachs & Co., Wasserstein Perella & Co., and Drexel Burnham Lambert.
“[Vaughn’s] appointment as president and chief executive officer is a further step in our succession planning process, which began several years ago and led to her recent promotion as our chief operating officer,” said Dennis.
“She has a proven track record as an exceptional leader demonstrated through successive roles at Genesco…I look forward to supporting [Vaughn] and the entire management team as we work together to continue Genesco's terrific positive momentum we have experienced since we divested Lids in February."
As Vaughn assumes her new role, she will become Genesco's 12th president and chief executive officer.
In June, the company reported improved sales and earnings thanks to better-than-expected sales led by its Journeys brand, which accounts for around 65% of Genesco’s revenues. The company’s net sales for the quarter ended May 4, 2019, rose 2% to $496 million, compared to $486 million in the prior-year period, while comparable sales increased 5%.
More recently, the group’s second largest retail chain, Schuh, saw falling sales and losses in its latest results posted in October, despite a rise in its online turnover.
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