Caleres CEO Diane Sullivan to retire Jan 15, 2023; President Jay Schmidt to become CEO

CALERES INC

Diane Sullivan to retire as CEO on Jan 15, 2023, assume role of Executive Chair.
President Jay Schmidt, age 61, will succeed Sullivan as CEO on that date.
Schmidt's new compensation: base salary $1M, target cash award 110%, long-term performance award $2M, restricted stock $2M.
Sullivan as Executive Chair: base salary $800K for FY2023, $500K for FY2024-May 2025, restricted stock $1.5M.
Succession is culmination of long-planned board process; Sullivan led acquisition/incubation of Sam Edelman, Allen Edmonds, Vionic.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

John W. Schmidt

Chief Executive Officer

CAL · CALERES INC

Effective: 2023-01-15
Filed: July 26, 2022, 7:59 PM ET

the Company’s President, John W. Schmidt, will become the Company’s Chief Executive Officer.

Role change

Diane M. Sullivan

Executive Chair

CAL · CALERES INC

Effective: 2023-01-15
Successor: John W. Schmidt
Filed: July 26, 2022, 7:59 PM ET

Diane M. Sullivan will retire as Chief Executive Officer as of January 15, 2023 and will assume the role of Executive Chair

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John W. Schmidt was appointed as Chief Executive Officer at CALERES INC.

Action: become
Role: Chief Executive Officer

Exact text from the filing

the Company’s President, John W. Schmidt, will become the Company’s Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Diane M. Sullivan changed role as Executive Chair at CALERES INC.

Action: assume
Role: Executive Chair

Exact text from the filing

Diane M. Sullivan will retire as Chief Executive Officer as of January 15, 2023 and will assume the role of Executive Chair

View on SEC.gov

CALERES INC filing history →

Source: SEC EDGAR

accession 0000014707-22-000048

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