Legion Partners helps pressure Perry Ellis CEO to step down
Perry Ellis CEO George Feldenkreis is stepping down. He's been with the company for over 30 years. The official step down date is January of next year.
His son will take the reigns. This comes after Legion Partners and CalSTRS teamed up to wage a proxy battle.
It'll be running candidates for three board seats, noting corporate goverance issues. It wanted separation of the CEO and chairman roles. Legion doesn't think that the stepping down of George goes far enough. The Feldenkreis family still has a stronghold on the company.
Interestingly, Carl Icahn is a friend of George Feldenkreis. He's called George “incredibly impressive...Although I don’t own Perry Ellis, anyone that bought the stock over the last few years must be extremely pleased with the profit on their investment."