21 Jun. 2011
MAURICE MARCIANO TO RETIRE AS GUESS EXEC NEXT YEARChairman of the Board, Maurice Marciano, will retire as an executive officer of Guess Inc when his current employment agreement expires on January 28, 2012. Marciano, who cofounded the Los Angeles-based apparel and accessories giant with his three brothers in 1981, is not stepping down completely, though: he will stay on as Non-Executive Chairman of the Board and serve as a consultant to the CEO and other executives in accordance with a two-year consulting agreement that takes effect on January 28.
Over his 30 years with the company, Marciano has served as CEO or Co-CEO from 1993 to 2007 and Chairman or Co-Chair of the Board from 1993 to the present. "Since we began, our vision has been to build an iconic brand that would resonate with consumers all around the world. Today, Guess has become a lifestyle brand present in 90 countries. I am proud of the work we have done and of the strong management team that we have assembled. As Chairman of the Board, I will continue to oversee the strategy of the company as well as its expansion and well being,” he said in a written statement released yesterday.
In addition to its distribution at department and specialty stores, Guess owned and operated 484 stores in the US and Canada and 937 –202 of which are directly owned– in other parts of the world as of April 30, 2011.
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