Paul Marciano gives up daily duties as Guess probes Kate Upton's sexual harassment allegations

Key Points
  • Paul Marciano is relinquishing his daily duties as Guess completes an investigation into sexual harassment claims.
  • The company's co-founder denies the allegations by actress and model Kate Upton.
Fashion designer and co-founder of Guess? Inc. Paul Marciano.
Getty Images

Guess said Tuesday that co-founder Paul Marciano has relinquished his day-to-day responsibilities pending the completion of the apparel company's investigation of sexual harassment claims by actress and model Kate Upton.

"I have pledged my full cooperation to the Company, and I have the utmost confidence in our CEO, Victor Herrero, to continue leading the Company during this time," Marciano said in a statement.

Marciano has denied the allegations by Upton. The company has since formed a special committee to investigate her claims. She has said Marciano's actions "took a huge toll on my confidence and self-worth."

"The Company takes very seriously any allegations of sexual misconduct, is committed to maintaining a safe work environment, and looks forward to the completion of a thorough investigation of all the facts," Guess said Tuesday in a statement.

Marciano's future with Guess will be determined when the investigation is completed, the company said.

Guess shares were down 4 percent on Tuesday. As of Friday, they had tumbled more than 15 percent this month. Upton voiced her allegations on Jan. 31.

Correction: Earlier headlines misstated the action by Paul Marciano. He has relinquished his day-to-day responsibilities at Guess pending completion of the investigation.

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