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Chairman of Guess? Inc to retire in January 2012
21 Jun '11
2 min read
Guess? Inc announced that Maurice Marciano, the Company's co-founder and Chairman of its Board of Directors, has notified the Company of his decision to retire as an executive officer when his current employment agreement expires on January 28, 2012, the end of the Company's current fiscal year. Mr. Marciano will continue to serve the Company as Non-Executive Chairman of its Board of Directors.
Mr. Marciano, along with his brothers, left the south of France and moved to Los Angeles, where they founded Guess? in 1981. Over the last thirty years, he has been instrumental to the Company's success, serving in a number of senior executive positions, including CEO or Co-CEO from 1993 to 2007 and Chairman or Co-Chairman of the Board from 1993 to the present.
In accordance with the terms of Mr. Marciano's current employment agreement, the Company and Mr. Marciano have entered into a two-year consulting agreement, under which Mr. Marciano will provide consulting services to the Company, including advice and counsel to the Company's Chief Executive Officer and other senior executives. The consulting agreement will become effective upon the expiration of his current employment agreement on January 28, 2012.
Reflecting on his thirty years with Guess?, Mr. Marciano commented, "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."
Mr. Marciano, along with his brothers, left the south of France and moved to Los Angeles, where they founded Guess? in 1981. Over the last thirty years, he has been instrumental to the Company's success, serving in a number of senior executive positions, including CEO or Co-CEO from 1993 to 2007 and Chairman or Co-Chairman of the Board from 1993 to the present.
In accordance with the terms of Mr. Marciano's current employment agreement, the Company and Mr. Marciano have entered into a two-year consulting agreement, under which Mr. Marciano will provide consulting services to the Company, including advice and counsel to the Company's Chief Executive Officer and other senior executives. The consulting agreement will become effective upon the expiration of his current employment agreement on January 28, 2012.
Reflecting on his thirty years with Guess?, Mr. Marciano commented, "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."
Guess? Inc
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