GUESS Co-Founder Relinquishes Duties During Investigation
February 20 2018 - 9:00AM
Business Wire
On February 7, the Board of Directors of Guess?, Inc. (NYSE:GES)
formed a Special Committee comprised of two independent directors
to oversee an ongoing investigation into recent allegations of
improper conduct by the Company's co-founder, Paul Marciano. Mr.
Marciano has denied the allegations. The investigation is being
conducted by the law firm of O'Melveny & Myers LLP, and the
Special Committee has retained the law firm of Glaser Weil,
LLP.
The Board of Directors and Mr. Marciano have agreed that Mr.
Marciano will relinquish his day to day responsibilities at the
Company, on an unpaid basis, pending the completion of the
investigation.
“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,” Mr. Marciano said.
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.
About GUESS?, Inc.
Established in 1981, GUESS began as a jeans company and has
since successfully grown into a global lifestyle brand. Guess?,
Inc. designs, markets, distributes and licenses a lifestyle
collection of contemporary apparel, denim, handbags, watches,
footwear and other related consumer products. Guess? products are
distributed through branded Guess? stores as well as better
department and specialty stores around the world. As of October 28,
2017, the Company directly operated 982 retail stores in the
Americas, Europe and Asia. The Company's licensees and distributors
operated 671 additional retail stores worldwide. As of October 28,
2017, the Company and its licensees and distributors operated in
roughly 100 countries worldwide. For more information about the
Company, please visit www.guess.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220005860/en/
GUESS?, Inc.Allison Shafiiashafii@guess.comorKaitlyn
Quailkquail@guess.com
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