Paul Marciano, Co-Founder and Chief Executive Officer of Guess?, Inc. (NYSE: GES), is stepping down. Victor Herrero will be his successor and new CEO of Guess?, Inc.
Paul Marciano will replace Maurice Marciano as Executive Chairman of the Board and will continue serving as Chief Creative Officer. Maurice Marciano will remain a director, and has been named Chairman Emeritus by the Board of Directors.
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In August, Victor Herrero, 46, will step into Marciano’s shoes, bringing over twenty years experience. He served as the head of Asia Pacific for Inditex Group, the world’s largest fashion retailer with brands including Zara, Massimo Dutti, Pull & Bear, Bershka, and Stradivarius.
the Company directly operated a total of 481 stores in the United States and Canada, and 1, 187 stores in 90 countries outside the United States and Canada, as well as 244 smaller-sized concessions in Asia and Europe.
Paul Marciano commented, “The most important criteria in our view are the understanding of our brand, which will celebrate its 35th anniversary next year, the complexity of our business being in over 90 countries with more than 25 categories of products, and having a deep understanding of the changing environment of the retail world. We believe that Victor is the perfect top executive because, in addition to his entrepreneurial spirit, he has unparalleled experience in building a large business in Asia, he has a deep understanding of the current world of retail, and he is extremely knowledgeable in best in class sourcing and supply chain.”
Victor Herrero said, “It’s a pivotal time for Guess?, and I look forward to joining a group that is poised to continue as an innovative leader in the fashion industry.”
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