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Guess Chairman Paul Marciano resigns after probe into improper conduct


(Reuters) - Inc said on Tuesday its co-founder, Paul Marciano, had resigned as the company's after a special committee completed an investigation into allegations of improper conduct.

Marciano gave up his day-to-day responsibilities at the company on an unpaid basis in February, days after tweeted, accusing Marciano of using his power to harass women.

The retailer said on Tuesday that many of the allegations, which included inappropriate comments and texts and unwanted advances, could not be corroborated.

However, said its investigation found that Marciano on certain occasions exercised poor judgment in his communications with models and photographers.

and Marciano entered into non-confidential settlement agreements totalling $500,000 that resolve claims by five individuals arising out of allegations of inappropriate conduct, the company said in a regulatory filing

Guess appointed Paul Marciano's brother, Maurice Marciano, as will remain on the board, it said.

(Reporting by in Bengaluru; editing by and Bill Berkrot)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 04:14 IST