The acquisition will add more than 300 products to L’Oreal’s lineup.
Robert Dennis, president and CEO of Genesco, will assume the additional role of chairman effective April 1.
Robert J. Dennis, president and CEO of multichannel footwear, headwear and accessories retailer Genesco Inc., will assume the additional role of chairman effective April 1.
He will succeed Hal N. Pennington in the final phase of a succession plan begun in 2005 when Dennis was named president and chief operating officer.
Pennington also announced that he will retire from Genesco’s board of directors at the conclusion of his term in June. He will continue to serve as a consultant to the company through March 31, 2011.
“It is deeply satisfying to be able to enter the final phase of our transition plan at a time when the company is financially healthy and strategically well-positioned,” says Pennington. “Having worked with Bob Dennis and the rest of the talented and highly motivated management team at Genesco throughout the transition, I have tremendous confidence in the future of the company."
Dennis was CEO of Hat World Corp. until Genesco’s acquisition of Hat World in 2004. Prior to Hat World, Dennis worked in a senior position with Asbury Automotive from 1997 to 1999. From 1984 to 1997 he worked for McKinsey & Company, an international consulting firm, where he led the North American retail practice.
Genesco is the parent company of Hat World, No. 360 in the Internet Retailer Top 500 Guide.