Global denim brand, Guess, has announced that its Co-founder Maurice Marciano has retired from the company’s board of directors, effective immediately.
Maurice Marciano co-founded Guess in 1981 along with his brothers Paul, Georges and Armand.
He has remained the company’s CEO for more than 40 years. He assisted in guiding Guess’ transformation from a small family firm and denim pioneer into a major lifestyle brand during that time.
Maurice Marciano, commented, “My brothers and I founded Guess based on a vision to create an iconic lifestyle brand that consumers around the globe would love. 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.”
Alex Yemenidjian, Chairman of the Board, said, “Maurice is a true visionary of Guess and an industry giant.”
Despite the Marciano family being in charge of Guess, their tenure there was not without its share of hardships. Following many allegations of Paul Marciano’s sexual assault, activist shareholder Legion Partners Asset Management demanded that both Maurice and Paul Marciano be removed from the board of directors of the firm in February 2022. The board ultimately decided to re-elect Maurice and Paul in April 2022 despite the controversy being public.
