Weston Godfrey
LIVE VENTURESAbout Weston Godfrey
Weston Godfrey, Jr. (age 46) is Co‑Chief Executive Officer of Marquis Industries (LIVE’s wholly owned flooring subsidiary) since June 1, 2023; previously CEO from July 1, 2018 after re‑joining as EVP on January 22, 2018. He held Sales Operations Manager and Senior Sales Manager roles at Samsung Electronics America for three years, and earlier served five years as Marquis Vice President of Operations; he began his career in DuPont’s nylon fibers business and is a Six Sigma Black Belt; he holds a BBA in Marketing from the University of Georgia . Company performance during his Marquis leadership period included a FY2023 TSR of 12.9% and FY2024 TSR of (46.3)% at the parent level, alongside FY2024 net loss and revenue growth YoY .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Marquis Industries | Vice President of Operations | Five years | Led credit, claims, customer service, sales operations, supply chain, and purchasing |
| Samsung Electronics America | Sales Operations Manager; Senior Sales Manager | Three years | Responsible for financial operations, forecasting, and sales in Home Appliance business |
| DuPont (nylon fibers business) | Six Sigma Black Belt | Not disclosed | Process improvement and operational excellence credentials |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Samsung Electronics America | Sales Ops Manager; Senior Sales Manager | Three years | Forecasting, sales, and financial operations in Home Appliances |
| DuPont (nylon fibers) | Six Sigma Black Belt | Not disclosed | Process improvement foundation |
Fixed Compensation
Summary Compensation (Cash) – Marquis CEO
| Metric | FY 2021 | FY 2022 |
|---|---|---|
| Base Salary ($) | $307,344 | $304,928 |
| Bonus ($) | $800,000 | $800,000 |
| All Other Compensation ($) | $15,368 | $15,742 |
| Total ($) | $1,122,712 | $1,120,670 |
Employment Agreement – Key Fixed Terms (Amended & Restated effective June 1, 2023)
| Term | Detail |
|---|---|
| Position | Co‑Chief Executive Officer, Marquis |
| Contract Term | June 1, 2023 to May 31, 2028 |
| Base Salary | $425,000 per year |
| Perquisites | $1,000/month car allowance; family health and dental insurance at company expense; $1.0 million term life policy; family fitness membership |
Performance Compensation
| Incentive Type | Metric | Target | Weighting | Actual Payout | Vesting |
|---|---|---|---|---|---|
| Annual Cash Bonus (FY2021) | Not disclosed | Not disclosed | Not disclosed | $800,000 | N/A |
| Annual Cash Bonus (FY2022) | Not disclosed | Not disclosed | Not disclosed | $800,000 | N/A |
The Compensation Committee historically does not benchmark or directly tie NEO pay to specific profitability, market value, or peer group metrics; bonuses and equity are awarded based on Committee/CEO recommendations and employment terms .
Equity Ownership & Alignment
Outstanding Equity Awards
| As of Fiscal Year End | Options Outstanding (#) | Notes |
|---|---|---|
| FY 2022 | — | No options listed for Godfrey |
| FY 2023 | — | No options listed for Godfrey |
Beneficial Ownership (Company common stock)
| Record Date | Shares Beneficially Owned | % of Class |
|---|---|---|
| June 9, 2023 | — (not reported in table) | — |
- Company policy prohibits hedging of Live Ventures securities by directors, officers, and employees; pledging status is not disclosed in proxies .
Employment Terms
| Provision | Economics / Terms |
|---|---|
| Termination without Cause (non‑CoC) | 12 months unpaid base salary continuation; family health/dental coverage until the earlier of 12 months or subsequent employment |
| Change‑of‑Control (CoC) – termination within 12 months (double‑trigger) | Cash payment equal to 2× base salary |
| CoC sale consideration threshold | If Marquis is sold for ≥ $100,000,000 purchase price, additional payment equal to base salary |
| Restrictive Covenants | Confidentiality, non‑competition, and non‑disparagement provisions |
Company Performance Context (LIVE parent)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Millions) | $355.171 | $472.840 |
| Net Income ($USD Millions) | $(0.102) | $(26.685) |
| TSR (%) | 12.9 | (46.3) |
Revenue values retrieved from S&P Global . Net income and TSR from proxy Pay‑vs‑Performance disclosures .
Investment Implications
- Alignment and insider selling pressure: Godfrey’s compensation is predominantly cash (large annual bonuses) with no disclosed equity awards or beneficial ownership—reducing “skin‑in‑the‑game” alignment and minimizing forced selling pressure from vesting events .
- Retention and change‑of‑control economics: Strong protections—12 months severance outside CoC and 2× base salary upon CoC termination (plus base salary if Marquis sale ≥ $100M)—limit retention risk but create moderate golden‑parachute costs in sale scenarios .
- Pay‑for‑performance structure: The Committee does not benchmark to peers nor hard‑link compensation to profitability/TSR; Godfrey’s FY2021–FY2022 bonuses were discretionary/undisclosed metrics, suggesting higher guaranteed/subjective pay components versus at‑risk equity .
- Execution risk and corporate backdrop: LIVE’s FY2024 net loss and sharply negative TSR vs FY2023 highlight tougher operating conditions; compensation structures with limited equity exposure may dilute incentives to drive long‑term TSR recovery .