Guess chairman, co-founder steps away amid sexual harassment investigation
Paul Marciano will relinquish his day-to-day responsibilities at Guess? on an unpaid basis pending the completion of a probe into accusations of improper conduct by model/actress Kate Upton.
Marciano owns a 17% stake in Guess, which he co-founded in 1981 with his brother. Although he stepped down as CEO in 2015, he has remained very influential in the company in the roles of chairman and chief creative officer.
In late January, Upton, via social media, accused Marciano of sexually and emotionally harassing women. In February, she told Time magazine that Marciano had sexually harassed and assaulted her during her first professional modeling campaign, when she was 18. She went on to describe a series of interactions with Marciano that took place during the several months she worked with Guess.
“Paul used his power to make me feel insecure and powerless, but I’m not going to let him intimidate me anymore,” Upton told Time. “These men think they are untouchable, but times are changing.”
Marciano has denied the allegations.
“I have pledged my full cooperation to the company, and I have the utmost confidence in our CEO, Victor Herrero, to continue leading the company during this time,” Marciano said.
Guess has formed a special committee comprised of two independent directors to oversee an investigation into recent allegations of improper conduct by Marciano, who has denied the allegations. The law firm of O’Melveny & Myers LLP is conducting the probe
"The company takes very seriously any allegations of sexual misconduct, is committed to maintaining a safe work environment, and looks forward to the completion of a thorough investigation of all the facts," Guess said in a statement on Tuesday.
As of October 28, Guess directly operated 982 retail stores in the Americas, Europe and Asia. company's licensees and distributors operated 671 additional retail stores worldwide.
Marciano owns a 17% stake in Guess, which he co-founded in 1981 with his brother. Although he stepped down as CEO in 2015, he has remained very influential in the company in the roles of chairman and chief creative officer.
In late January, Upton, via social media, accused Marciano of sexually and emotionally harassing women. In February, she told Time magazine that Marciano had sexually harassed and assaulted her during her first professional modeling campaign, when she was 18. She went on to describe a series of interactions with Marciano that took place during the several months she worked with Guess.
“Paul used his power to make me feel insecure and powerless, but I’m not going to let him intimidate me anymore,” Upton told Time. “These men think they are untouchable, but times are changing.”
Marciano has denied the allegations.
“I have pledged my full cooperation to the company, and I have the utmost confidence in our CEO, Victor Herrero, to continue leading the company during this time,” Marciano said.
Guess has formed a special committee comprised of two independent directors to oversee an investigation into recent allegations of improper conduct by Marciano, who has denied the allegations. The law firm of O’Melveny & Myers LLP is conducting the probe
"The company takes very seriously any allegations of sexual misconduct, is committed to maintaining a safe work environment, and looks forward to the completion of a thorough investigation of all the facts," Guess said in a statement on Tuesday.
As of October 28, Guess directly operated 982 retail stores in the Americas, Europe and Asia. company's licensees and distributors operated 671 additional retail stores worldwide.