Guess co-founder Paul Marciano has resigned from the corporate after sexual misconduct allegations, based on a Securities and Trade Fee (SEC) submitting by the corporate Tuesday.
The corporate filed an 8-Okay type with the SEC, a requirement to announce main News to shareholders. The shape not solely confirmed Marciano stepped down, but additionally detailed the allegations towards him. The corporate had introduced in February it could be conducting an investigation into a number of allegations of sexual misconduct, together with “inappropriate texts and feedback, and undesirable advances together with kissing and groping.”
He’ll go away the corporate subsequent yr, based on the SEC doc.
The investigation was offered to the corporate’s board on June 7 and 11, and Marciano introduced his resignation to the board Monday.
Amongst those that accused Marciano of improper conduct was supermodel Kate Upton, who advised “Good Morning America” in February she got here ahead as a result of she “wished to stop that from occurring to different women.” Upton additionally reiterated allegations to “GMA” that Marciano fondled her breasts throughout her first picture shoot for the model in 2010 when she was 18 and continued to behave inappropriately towards her in skilled settings for a couple of months after.
Marciano has denied all of the allegations and has not admitted any wrongdoing, saying in an announcement after Upton’s allegations that they have been “preposterous.”
“I’ve by no means been alone with Kate Upton,” he stated. “I’ve by no means touched her inappropriately.”
Marciano stated he would cooperate with the investigation, which the corporate stated on Tuesday “interviewed greater than 40 individuals and reviewed roughly 1.5 million pages of paperwork, together with emails, human sources and authorized division information, social media messages, video and audio recordings, pictures, journey itineraries, calendar entries, agreements, invoices and monetary information.”
In line with the submitting, “most of the allegations couldn’t be corroborated” or no conclusion could possibly be reached as a result of accusers didn’t wish to be interviewed or either side offered credible proof. Nonetheless, the investigation did discover proof of impropriety by Marciano.
“The investigation discovered that on sure events Mr. Marciano exercised poor judgment in his communications with fashions and photographers and in inserting himself in conditions wherein believable allegations of improper conduct might, and did, come up,” the submitting says.
The submitting says Marciano and Guess “entered a non-confidential settlement” to keep away from lawsuits.
“To keep away from the price of litigation and with out admitting legal responsibility or fault, the Firm and Mr. Paul Marciano entered into non-confidential settlement agreements resolving claims of 5 people arising out of allegations of inappropriate conduct by Mr. Paul Marciano for an combination complete quantity of $500,000,” based on the submitting.
Guess, Inc., was based in 1981 by brothers Paul Marciano, Georges Marciano and Maurice Marciano. The model’s denims exploded in recognition within the 1980s, and its advertisements featured big-time supermodels reminiscent of Claudia Schiffer and Eva Herzigova.