Guess Chairman Paul Marciano reigns after probe into improper conduct

Business


(Reuters) – Guess Inc (GES.N) said on Tuesday its co-founder, Paul Marciano, had resigned as the company’s executive chairman after a special committee completed an investigation into allegations of improper conduct.

FILE PHOTO: A view of a Guess? logo outside its store in Golden, Colorado, December 3, 2014.REUTERS/Rick Wilking

Earlier in February, model and actress Kate Upton tweeted, accusing Marciano of using his power to harass women.

The fashion retailer said on Tuesday many of the allegations, which included inappropriate comments and texts and unwanted advances, could not be corroborated.

However, Guess said the investigation found that Marciano on certain occasions exercised poor judgment in his communications with models and photographers.

Guess appointed Paul Marciano’s brother, Maurice Marciano, as chairman of the board. Paul Marciano will remain on the board.

Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel



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