Leadership & Pay ·
Genesco Inc. announced that Parag D. Desai will transition from full-time employment to part-time status effective…
GCOGenesco Inc
Genesco Inc. announced that Parag D. Desai will transition from full-time employment to part-time status effective August 7, 2026, ceasing his role as an executive officer while retaining the title of Senior Vice President and Chief Strategy and Digital Officer during a transition period ending October 31, 2026. Mr. Desai will receive $10,000 per month for up to 32 hours of work monthly and remain eligible for a target bonus of $338,000 under the Fiscal 2027 Short-Term Incentive Plan with objectives deemed fully achieved as of August 7, 2026. His outstanding performance share units will receive retirement treatment without being treated as a termination event. Following his retirement on October 31, 2026, Mr. Desai will provide consulting services at $2,400 per day through January 31, 2027. Genesco Inc. operates in the footwear retail industry, offering branded lifestyle and fashion footwear through more than 1,200 retail stores and e-commerce websites.