Guess? Inc.’s Paul Marciano resigned as chairman after a probe of sexual-harassment allegations by ladies together with mannequin Kate Upton, although he received’t be leaving the corporate he co-founded altogether.
Marciano, who was changed as chairman by his brother Maurice, will step down as chief inventive officer when his contract expires in January 2019 although will keep on as a board member, a spokeswoman confirmed. Although he forfeited his wage for the interval from Feb. 20, when the investigation was first introduced, till he notified the board of his resignation on Monday, the outgoing Marciano will acquire a wage from now till January, Guess stated in a filing.
The allegations included claims of “inappropriate comments and texts, and unwanted advances including kissing and groping,” the corporate stated. Investigators interviewed greater than 40 folks and reviewed about 1.5 million pages of paperwork, together with e-mails, human assets information, social media messages and journey itineraries.
Marciano and Guess additionally reached non-confidential settlement agreements with 5 people totaling $500,000 to keep away from “the cost of litigation and without admitting liability or fault,” it stated.
Investigators concluded that although not all allegations could possibly be corroborated, Marciano put himself in conditions the place such allegations may happen. He already relinquished his day-to-day duties on the retailer in February.
“The investigation found that on certain occasions Mr. Marciano exercised poor judgment in his communications with models and photographers and in placing himself in situations in which plausible allegations of improper conduct could, and did, arise,” the corporate stated.
Though Marciano stop as chief govt officer of Guess in 2015, he retained a serious affect within the vogue model as chairman and chief inventive officer. He served because the artwork director for a major promoting marketing campaign starring Jennifer Lopez this previous winter. CEO Victor Herrero will take over Marciano’s remaining tasks on the firm.
(Adds particulars in third paragraph. An earlier model was corrected to mirror that he’ll stay on the board previous January.)