LXRandCo Announces Results of Annual Meeting - Strengthens Board with Two New Independent Directors

MONTREAL, June 14, 2018 /CNW/ - LXRandCo, Inc. ("LXRandCo" or the "Company") (TSX: LXR) (TSX: LXR.WT), an international omni-channel retailer of branded vintage luxury handbags and accessories, today announced the results of its annual meeting of shareholders, which was held yesterday at 10:30 a.m. ET in Montreal.

At the meeting, LXRandCo's new President and Chief Executive Officer, Steven Goldsmith, presented the details of the Company's updated strategic plan, which is archived on the Company's web site at http://investors.lxrco.com/events-and-webcasts.

Each of the nominees listed in LXRandCo's Management Proxy Circular dated May 11, 2018 were elected as directors of the Company. Each of the Company's directors was elected or re-elected by a majority of the votes cast by shareholders present or represented by proxy.  Lauri Kien Kotcher and Stephane Geurin are new, independent directors (see below for biographies).

Director Nominee

Votes For

% For

Votes Withheld

% Withheld






Camillo (Cam) Di Prata

10,274,711

91.35

972,834

8.65






Frederick (Fred) Mannella

10,274,611

91.35

972,934

8.65






Kei Izawa

10,274,711

91.35

972,834

8.65






Steven Goldsmith

10,274,711

91.35

972,834

8.65






Luc Mannella

10,274,711

91.35

972,834

8.65






Joseph Mimran

10,274,711

91.35

972,834

8.65






Javier San Juan

10,246,795

99.99

750

0.01






Lauri Kien Kotcher

10,246,795

99.99

750

0.01






Stephane Guerin

10,246,795

99.99

750

0.01

 

In addition, shareholders voted in favour of resolutions, by a majority of the votes cast by shareholders present or represented by proxy, reappointing Ernst & Young LLP, as auditor for the Company and ratifying, confirming and approving the deferred share unit plan (the "DSUP"), the long-term incentive plan (the "LTIP"), and the employee share purchase plan (the "ESPP"), as described in the Company's Management Proxy Circular dated May 11, 2018.

Item

For

% For

Against

%
Against

Withheld/
Abstain

% Withheld/
Abstain

Non-
Vote









Appointment of
Auditors

11,257,545

100.00

0

0.00

0

0.00

0









Deferred Share Unit
Incentive Plan

11,070,411

98.43

177,134

1.57

0

0.00

0









Long-Term Incentive
Plan

11,227,495

99.82

20,050

0.18

0

0.00

0









Employee Share
Purchase Plan

11,227,495

99.82

20,050

0.18

0

0.00

0

 

Final voting results on all matters voted on at the annual meeting of shareholders held on June 13th, 2018 will be filed on SEDAR (www.sedar.com).  

Biographies of New Directors

Stephane Guerin was appointed Chief Financial and Development Officer of Groupe Dynamite Inc. ("Dynamite"), a leading North American fast fashion retailer, in 2017. At Dynamite, Stephane is leading all aspects of Financial, Real Estate Development, Information Technology & Digital Transformation and International Expansion as well as Marketing. Prior to joining Dynamite, Stephane served as President & Chief Operating Officer of Hewitt Equipment Limited a Caterpillar Dealership, from 2009 to 2017. Before this, he was the Chief Financial Officer of Air Canada Technical Services. Stephane has more than 20 years in various senior operational and financial positions.  He holds a B.Comm from the ESG-UQAM. He's also a member of the Canadian Chartered Professional Accountants Association.

Lauri Kien Kotcher is the CEO of Hello Products, a disruptive and naturally friendly personal care company targeted at millennial Proposed director consumers. Since joining Hello in 2015, the company has become the New York, New York, United States fastest growing oral care brand. Lauri has been a Senior Advisor at Catterton Partners and was part of the Portfolio Operations team where Independent she served as a Board member of several portfolio companies and played an active leadership role in driving their growth.  Prior to her current roles, Lauri spent 10 years in senior executive roles as CMO of Godiva, Head of Global Marketing at Pfizer Consumer Healthcare and as a Managing Director at Lehman Brothers.  Earlier in her career, Lauri was a partner at McKinsey and Company. Over her 15-year career there she served Fortune 500 global clients in luxury retail, packaged goods and consumer healthcare. She was a co-leader of McKinsey's North American consumer practice and was known for her work with front line sales teams and for spearheading McKinsey's industry-leading sales force benchmarking work.   Lauri holds a BA cum laude from Princeton University and JD/MBA degrees from Stanford University.  She is the Vice President of the Board of Trustees of The Churchill School and Center, and an advisory board member at Springboard Enterprises and the New York Fashion Tech Lab – a business incubator for early stage companies at the intersection of fashion and technology.

About LXRandCo

LXRandCo is a rapidly growing omni-channel retailer of branded vintage luxury handbags and accessories. LXRandCo sources and authenticates high-quality, pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others, and sells them at attractive prices through: a retail network of "shop-in-shops" located in major department stores in the United States and Canada; wholesale operations primarily in the United States; and its own e-Commerce website, www.lxrco.com.

SOURCE LXRandCo, Inc.

For further information: Audrey Lara, Chief Financial Officer, LXRandCo, Inc., +1 (514) 718-9541, audrey.l@lxrco.com; Lawrence Chamberlain, Investor Relations, LodeRock Advisors, +1 (416) 519-4196, lawrence.chamberlain@loderockadvisors.com