Founder of 'Guess' despite the resignation, stays on its board until 2019- Reports

Navya Beri
Last Updated: Jun 13 2018 16:00

On Tuesday, the founder of 'Guess' have his resignation in the wake of a probe into sexual assault assertions.

Despite his resignation as executive chairman, he will stay on its board until 2019.

Guess said that a special committee was unable to justify a number of accusations against Paul Marciano, including kissing and groping.

But it found that he "exercised poor judgement in his communications with models and photographers".

US-based Guess and Paul Marciano will pay $500,000 to five individuals.

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,” Guess said in a Securities and Exchange Commission filing.

Two independent investigators looked into allegations of “inappropriate comments and texts, and unwanted advances including kissing and groping,” Guess said.

It said they interviewed more than 40 people and reviewed some 1.5 million pages of documents.

“Many of the allegations could not be corroborated,” the filing added.

“We are pleased at today’s news... and yet, much more remains to be done if Guess truly wants to be a brand that stands for respect for women,” said lawyer Lisa Bloom, who represented four of the alleged victims.

“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.”

“We do not believe a man with so many credible accusations of sexual assault is fit to lead any company, much less one that sells primarily to women,” she added. 

"It’s disappointing that such an iconic women’s brand @GUESS is still empowering Paul Marciano as their creative director #metoo," US model Kate Upton tweeted who had earlier claimed that Marciano had sexually assaulted her.