Troy Alstead will change into chair as Robert Eckert steps down and can retire later in 2026, with director Chris McCormick retiring after the assembly.
Shareholders re-elected all three Class One administrators, accepted government compensation and ratified PricewaterhouseCoopers, whereas the sustainability oversight shareholder proposal didn’t move.
CEO Michelle Gass stated Levi entered 2026 with clear momentum—Q1 gross sales rose 9% natural and 14% reported, direct-to-consumer is predicted to exceed 50% of the enterprise, and the corporate is accelerating model initiatives together with a Tremendous Bowl advert and international partnerships.
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Levi Strauss & Co. (NYSE:LEVI) held its 2026 annual assembly of shareholders in a digital format, that includes board and management updates, voting outcomes on 4 proposals, and a quick enterprise and model replace from President and CEO Michelle Gass.
Chair Robert Eckert opened the assembly by welcoming shareholders and introducing the corporate’s administrators and administration crew. Eckert additionally acknowledged two departures from the board and management.
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Eckert stated director Chris McCormick will retire from the board after the assembly, thanking him for his “immense worth and repair.” Eckert additionally stated he’ll step down as chair following the assembly and retire later in 2026, calling his 15-year tenure “one of many biggest honors of my profession.”
Eckert stated Troy Alstead, who has served on the board for greater than 10 years, will change into chair. He described Alstead as “a guiding power for the corporate” and stated he has “each confidence” in his capability to guide the board.
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David Jedrzejek, senior vice chairman and normal counsel, reviewed assembly procedures, together with that the assembly was recorded and can be accessible for 30 days, that registered shareholders may submit questions in the course of the first 5 minutes, and that voting would shut after the proposals have been offered. He stated Broadridge, appearing as inspector of elections, confirmed a quorum.
Jedrzejek outlined 4 proposals:
Election of three Class One administrators to serve till the 2029 annual assembly: Jill Beraud, Artemis Patrick, and Elliott Rodgers.
Advisory vote on government compensation for the corporate’s named government officers.
Ratification of PricewaterhouseCoopers as impartial registered public accounting agency for the fiscal yr ending Nov. 29, 2026.
A shareholder proposal submitted by the Nationwide Middle for Public Coverage Analysis (NCPPR) requesting a bylaw modification associated to a sustainability return on funding report by the audit committee.
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Jedrzejek acknowledged Steve Milloy, government director of the Free Enterprise Venture at NCPPR, to current the shareholder proposal. Milloy urged shareholders to vote in favor of proposal 4, describing it as associated to oversight of the corporate’s “so-called sustainability initiatives.”
Milloy criticized the corporate’s “web zero by 2050” sustainability objective, arguing it was primarily based on what he characterised as “science fraud.” He additionally stated the objective had pushed the corporate to “boast about shopping for so-called renewable vitality,” which he described as “pointlessly costly and unreliable.” Milloy additional asserted that the corporate “propagates materials falsehoods about sustainability” and warned that “it’s fairly unlawful for administration to problem materially deceptive statements.”
He concluded by telling shareholders, “Vote sure on proposal quantity 4.”
After Milloy’s remarks, Jedrzejek declared the polls closed and reported preliminary outcomes supplied by the inspector of elections:
All three Class One director nominees have been elected to three-year phrases expiring on the 2029 annual assembly.
The advisory vote approving government compensation handed.
The appointment of PricewaterhouseCoopers was ratified.
The shareholder proposal didn’t move.
Jedrzejek stated the ultimate tabulation can be included within the assembly minutes and disclosed in a Type 8-Okay to be filed with the SEC inside 4 enterprise days.
Within the Q&A portion of the assembly, Gass responded to a query about sustaining momentum “given the robust begin to 2026.” Gass stated the corporate started 2026 with “actual momentum” and “beat expectations throughout the highest and backside line.” She stated first-quarter gross sales rose 9% on an natural foundation and 14% on a reported foundation, and that outcomes exceeded expectations “throughout margin and EPS.”
Gass stated the corporate’s “intent to change into a DTC-first firm is enjoying out this yr,” including that direct-to-consumer can be “greater than 50%” of the enterprise. She additionally stated wholesale progress continued alongside DTC progress within the first quarter.
She pointed to accelerating class efficiency in “males’s, ladies’s, tops, bottoms,” and stated the corporate’s pivot to change into a “head-to-toe denim way of life retailer” was working. “The model has by no means been stronger,” Gass stated.
Gass highlighted advertising and partnership initiatives, together with a presence on the Tremendous Bowl at Levi’s Stadium, the corporate’s “first Tremendous Bowl advert in 20 years,” and the launch of its international marketing campaign, “Behind Each Unique.” She stated the marketing campaign included international partnerships and referenced BLACKPINK’s Rosé, noting the corporate was amplifying that partnership in Asia by way of a collaboration. She additionally cited a partnership with COLORSxSTUDIOS targeted on rising artists and famous Levi’s Stadium can be one of many hosts of the World Cup. Gass added the corporate had “16 quarters of constructive comp progress” and stated it expects momentum to proceed by way of the remainder of 2026 and past.
In closing remarks, Eckert stated the corporate is making “nice progress” in evolving right into a “best-in-class denim way of life retailer,” and expressed confidence within the firm’s long-term technique underneath Gass’s management and Alstead as chair. He stated the corporate stays dedicated to “delivering a powerful, worthwhile future for all shareholders.”
Levi Strauss & Co is a worldwide attire firm greatest identified for its denim denims and informal put on. Based in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the corporate pioneered the fashionable blue jean with the introduction of rivet-reinforced work pants. Over its greater than 160-year historical past, Levi Strauss has advanced into a life-style model, providing a broad portfolio that features denim for males, ladies and youngsters, in addition to tops, outerwear, footwear and equipment.
The corporate’s flagship label, Levi’s®, is acknowledged worldwide for its iconic kinds such because the 501® Unique Match Denims, whereas further manufacturers, together with Dockers®, Goal core metric, and Denizen® by Levi’s, cater to various worth factors and client segments.
The article “Levi Strauss & Co. AGM: Alstead Named Chair as Shareholders Reject Sustainability Proposal, CEO Touts Momentum” was initially revealed by MarketBeat.
