Troy Alstead will turn 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, permitted government compensation and ratified PricewaterhouseCoopers, whereas the sustainability oversight shareholder proposal didn’t move.
CEO Michelle Gass mentioned Levi entered 2026 with clear momentum—Q1 gross sales rose 9% natural and 14% reported, direct-to-consumer is anticipated to exceed 50% of the enterprise, and the corporate is accelerating model initiatives together with a Tremendous Bowl advert and world partnerships.
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.
Eckert mentioned director Chris McCormick will retire from the board after the assembly, thanking him for his “immense worth and repair.” Eckert additionally mentioned 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 mentioned Troy Alstead, who has served on the board for greater than 10 years, will turn into chair. He described Alstead as “a guiding power for the corporate” and mentioned he has “each confidence” in his capability to steer the board.
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 mentioned 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 unbiased registered public accounting agency for the fiscal 12 months ending Nov. 29, 2026.
A shareholder proposal submitted by the Nationwide Heart for Public Coverage Analysis (NCPPR) requesting a bylaw modification associated to a sustainability return on funding report by the audit committee.
Jedrzejek acknowledged Steve Milloy, government director of the Free Enterprise Undertaking 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 aim, arguing it was based mostly on what he characterised as “science fraud.” He additionally mentioned the aim had pushed the corporate to “boast about shopping for so-called renewable power,” 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 concern 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 offered 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 mentioned the ultimate tabulation can be included within the assembly minutes and disclosed in a Kind 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 sturdy begin to 2026.” Gass mentioned the corporate started 2026 with “actual momentum” and “beat expectations throughout the highest and backside line.” She mentioned 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 mentioned the corporate’s “intent to turn into a DTC-first firm is enjoying out this 12 months,” including that direct-to-consumer can be “greater than 50%” of the enterprise. She additionally mentioned wholesale development continued alongside DTC development within the first quarter.
She pointed to accelerating class efficiency in “males’s, girls’s, tops, bottoms,” and mentioned the corporate’s pivot to turn into a “head-to-toe denim life-style retailer” was working. “The model has by no means been stronger,” Gass mentioned.
Gass highlighted advertising and marketing 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 world marketing campaign, “Behind Each Authentic.” She mentioned the marketing campaign included world partnerships and referenced BLACKPINK’s Rosé, noting the corporate was amplifying that partnership in Asia by a collaboration. She additionally cited a partnership with COLORSxSTUDIOS centered on rising artists and famous Levi’s Stadium shall be one of many hosts of the World Cup. Gass added the corporate had “16 quarters of optimistic comp development” and mentioned it expects momentum to proceed by the remainder of 2026 and past.
In closing remarks, Eckert mentioned the corporate is making “nice progress” in evolving right into a “best-in-class denim life-style retailer,” and expressed confidence within the firm’s long-term technique below Gass’s management and Alstead as chair. He mentioned the corporate stays dedicated to “delivering a robust, worthwhile future for all shareholders.”
Levi Strauss & Co is a world attire firm finest recognized for its denim denims and informal put on. Based in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the corporate pioneered the trendy blue jean with the introduction of rivet-reinforced work pants. Over its greater than 160-year historical past, Levi Strauss has developed into a life-style model, providing a broad portfolio that features denim for males, girls and youngsters, in addition to tops, outerwear, footwear and equipment.
The corporate’s flagship label, Levi’s®, is acknowledged worldwide for its iconic types such because the 501® Authentic Match Denims, whereas extra manufacturers, together with Dockers®, Goal core metric, and Denizen® by Levi’s, cater to various value factors and shopper segments.
