Maurice Marciano, one of the co-founders of the premium brand Guess, has officially retired from the company’s board of directors, effective immediately.
Marciano played a pivotal role in establishing Guess in 1981 alongside his brothers, Paul, Georges, and Armand. Over the course of his career, he had served as both chairman and chief executive officer of the company.
In a statement, Maurice Marciano emphasized the foundational vision that laid the groundwork for Guess, stating, “Today, I’m proud to say that we have turned that vision into a reality, in what has been an incredibly fulfilling journey for me personally. As the second-largest shareholder of Guess, I’m grateful to the board, to Paul, and to Carlos and the entire Guess family for their partnership and commitment to our brand. I’m confident that the company is well positioned to continue its success long into the future.”
However, Marciano’s tenure at Guess was not without significant challenges. In February 2022, activist shareholder Legion Partners Asset Management called for the removal of both Maurice and Paul Marciano from the company’s board of directors amid a series of sexual assault allegations against Paul.
Although allegations and reports regarding Paul had circulated for decades, with multiple individuals coming forward, Guess continued to support the Marciano brothers after conducting an investigation in 2018, which led the company to strongly refute the claims.
Ultimately, the board decided to re-elect both Maurice and Paul in April 2022, characterizing Legion’s campaign to withhold support as “irresponsible” and a “massive distraction” from the company’s financial performance