Finish Line says Genesco exec to become president

Finish Line Inc. this afternoon said it plans to name Bob Dennis president after completing its $1.5 billion purchase of Tennessee-based Genesco Inc.

Dennis currently serves as Genesco’s president, and Glenn Lyon is president of Finish Line. Lyon would remain president of the company’s Finish Line division, company spokeswoman Elise Hasbrook said.

Finish Line Inc. says CEO Alan Cohen will remain in that post, with Dennis reporting to him.

Dennis has been an Indianapolis executive before. He is a former CEO of locally based Hat World, which Genesco acquired in 2004. Genesco operates several other mall chains, including Journeys.

Finish Line shares have been ravaged since the company announced the Genesco acquisition last month. They were trading this afternoon at $7.63, down 40 percent since the day before the deal was announced.