Paul Marciano

Paul Marciano has resigned from his position as executive chairman of Guess Inc.’s board, according to the company’s filing with the Securities and Exchange Commission. Mr. Marciano, who will be replaced by his brother Maurice Marciano, will remain on the board through the end of his contract. Mr. Marciano, a founder of the company, had forfeited his salary during the period of the investigation, but will receive a salary from June 11 2018 until the expiration of his contract on Jan. 30, 2019. Guess and Mr. Marciano signed nonconfidential settlement agreements for the amount of $500,000 with five women who had accused Mr. Marciano of sexual harassment. The investigation into Mr. Marciano’s behavior began after Kate Upton, an actor and three-time Sports Illustrated cover model, took to Instagram and Twitter to accuse Mr. Marciano of sexual and emotional harassment in January 2018. In 2009, Lindsey Ring, a former fit model for Guess, filed suit against Mr. Marciano in Los Angeles. Ms. Ring’s attorneys filed a dismissal of the case in December of 2009, which could indicate a settlement.