LOS ANGELES--(BUSINESS WIRE)--Feb. 20, 2018--
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
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Source: GUESS?, Inc.