Paul Marciano, co-founder of American clothing brand Guess, has announced voluntary resignation in lieu of sexual assault investigations.
Effective immediately, the 66-year-old is no more the Executive Chairman but will continue as Chief Creative Officer for now, to smoothen ‘transfer of responsibilities’.
Guess issued a statement of his exodus on June 12, 2018, while adding that the executive will receive his salary up until January 30 and the compensation from February 20 to June 11 is forfeited.
The decision to remove Marciano came from a united vote across the company’s board, the proceedings of which were off limits for both the co-founding Marciano brothers.
The brand’s statement further revealed the nature of assault claims as ‘inappropriate comments and texts and unwanted advances.
Additionally, the company broadcasted that over 40 people and some 1.5 million sheets of documents were searched through as a part of the enquiry but ‘many of the allegations could not be corroborated.’
Although no victim identities from the investigations were revealed, American actor and supermodel Kate Upton did go public early this year regarding the harassment she faced from the Guess executive.
The report also broadcasted that five of the persons pressing charges have agreed on a settlement of US $ 500,000.
Lisa Bloom, the lawyer representing four of these victims said, “Each of my clients chose to accept this settlement because it was preferable to litigation, especially given the statute of limitations, and because she still retains the right to tell her story one day if she chooses to do so.”
However, Bloom said she was disparaged to know that Marciano will continue working at Guess till next year since a man with ‘so many credible accusations of sexual assault is not fit to lead any company, much less one that sells primarily to women.’