Deckers Brands (NYSE: DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, today filed an investor presentation highlighting Marcato’s continued false and misleading statements about Deckers and Marcato’s nominees’ lack of critical and relevant skills, as well as industry and board experience. The presentation and other important information related to Deckers’ Annual Meeting on December 14, 2017, can be found on Deckers’ website at www.votedeckers.com.
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A few of the misleading tactics used by Marcato highlighted in the presentation include:
In addition to propagating false and misleading statements about Deckers, Marcato has nominated a slate of unvetted, unknown and unqualified director candidates. Most have never served on the board of a public company and many have no C-level executive experience. Nearly all of Marcato’s nominees lack global, multi-brand or retail experience, and those with this experience did not work in operating or strategic roles. Additionally, Marcato’s proposed slate has an alarming history, including:
In short, Marcato’s nominees lack the skills, background and relevant expertise to serve on the Deckers Board. None of Marcato’s nominees’ skills are additive to the skills that the Deckers Board already possesses. Electing any of Marcato’s nominees now—just as the transformation of Deckers is showing real results—would be highly damaging and value destructive.
DECKERS HAS THE RIGHT PLAN AND THE RIGHT BOARD
In contrast, the Deckers Board has the right mix of skills and experience to oversee the Company’s transformation. Deckers directors bring:
√ | Multi-faceted skill sets with public company, luxury / premium retail and complex business management experience; | |
√ | Deep knowledge of, and involvement in, Deckers’ current plan and ability to drive the organization forward for the long term; | |
√ | Deep C-suite executive and Board experience outside of Deckers, with seven of nine directors being current or former CEOs, CFOs, COOs or Chief Administrative Officers of major companies; and | |
√ | Global, multi-brand, multi-channel, retail, apparel, footwear and technology experience. | |
Deckers’ Board of Directors unanimously recommends that stockholders vote “FOR” ALL of Deckers’ nominees listed on the WHITE proxy card.
PROTECT YOUR INVESTMENT! |
PLEASE VOTE TODAY ON THE WHITE PROXY CARD! |
If you have questions, need assistance in voting your shares, or wish to change a prior vote, please contact: |
INNISFREE M&A INCORPORATED |
Stockholders Call Toll-Free: |
(877) 750.0625 (from the U.S. and Canada) |
or |
(412) 232.3651 (from other locations) |
Remember, please simply discard any Gold proxy card you may receive from Marcato. Your Board does not endorse any of Marcato’s nominees and we urge you to NOT submit any proxy using Marcato’s gold proxy card, even as a protest vote. A withhold vote on Marcato’s Gold proxy card will revoke any earlier proxy that you have submitted to Deckers. |
About Deckers Brands
Deckers Brands is a global leader in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The Company’s portfolio of brands includes UGG®, Koolaburra®, HOKA ONE ONE®, Teva® and Sanuk®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has a 40-year history of building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information, please visit www.deckers.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding Deckers’ future strategies and cost-reduction initiatives. Deckers has attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” or “would,” and similar expressions or the negative of these expressions.
Forward-looking statements represent management’s current expectations and predictions about trends affecting Deckers’ business and industry and are based on information available as of the time such statements are made. Although Deckers does not make forward-looking statements unless it believes that it has a reasonable basis for doing so, Deckers cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause Deckers’ actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled “Risk Factors” in Decker’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017, as well as in its other filings with the Securities and Exchange Commission.
Except as required by applicable law or the listing rules of the New York Stock Exchange, Deckers expressly disclaims any intent or obligation to update any forward-looking statements, or to update the reasons that actual results could differ materially from those expressed or implied by these forward-looking statements, whether to conform such statements to actual results or changes in Deckers’ expectations, or as a result of the availability of new information.
1 | “Current” market date reflects market data as of 11/17/17, with five-year market performance measured against market data as of 11/19/12 (as 11/17/12 was a Saturday). | |
2 | Deckers Proxy Peer Group includes The Buckle, Inc., Carter’s, Inc., Chico's FAS, Inc., Columbia Sportswear Company, Crocs, Inc., DSW Inc., Express, Inc., The Finish Line, Inc., Fossil Group, Inc., G-III Apparel Group, Ltd., Guess?, Inc., Lululemon Athletica Inc., Oxford Industries, Inc., RH, Skechers U.S.A., Inc., Steven Madden, Ltd., Under Armour, Inc., and Wolverine World Wide, Inc.; does not include Kate Spade & Company (acquired by Tapestry, Inc., formerly known as Coach, Inc.) as it is no longer publicly traded; returns measured using arithmetic mean. | |
View source version on businesswire.com: http://www.businesswire.com/news/home/20171121005304/en/
Investors:
Deckers Brands
Steve Fasching, 805-967-7611
VP,
Strategy & Investor Relations
or
Innisfree M&A Incorporated
Arthur
B. Crozier, 212-750-5833
or
Media:
Joele Frank,
Wilkinson Brimmer Katcher
Eric Brielmann / Amy Feng, 415-869-3950