New York, June 13: In the wake of the recent sexual assault claims, Paul Marciano, co-founder of the Guess fashion brand has resigned. Guess in a filing to Securities and Exchange Commission said, "Marciano exercised poor judgment in his communications with models and photographers and in placing himself in situations in which plausible allegations of improper conduct could, and did, arise."
According to an AFP report, Marciano has resigned from his post as the Executive Chairman but will remain as the company's chief creative officer, till January 30. He will also continue to receive the salary till the date mentioned above. Reportedly, his salary was forfeited from February 20 to June 11. He also owns a 17 per cent stake in the company
The allegations against Marciano became public after model Kate Upton in a Time magazine interview accused him of grabbing her breasts and aggressively kissing her almost eight years ago. Marciano denied the accusations. Soon after this, a select committee of the Guess board and an outside law firm launched an investigation, which looked into several reports of inappropriate comments and texts along with unwanted kissing and groping.