Guess, Inc. has announced that Maurice Marciano, co-founder and non-executive Chairman of the board of Guess is stepping down from his position after he was recently injured in a bicycle accident near his home in Napa Valley.
Commenting on the development, Paul Marciano, Chief Creative Officer and Director for Guess, said in a statement: “After careful medical review, my brother Maurice will be in rehabilitation and therapy for an extended period of time and, therefore, will no longer continue to serve as non-executive Chairman of the board.”
Effective August 14, 2020, the Guess board has appointed Alex Yemenidjian, an independent board member for over 15 years and the current Lead Independent Director, to replace Maurice Marciano as non-executive Chairman of the board. Maurice Marciano will continue in his role as a member of the Guess board.
“We know that Alex will continue his exemplary service to Guess in his new role as non-executive Chairman of the board,” added Paul Marciano.