Guess? Inc. co-founder Paul Marciano has resigned as executive chairman and will leave the company next year after an internal investigation determined he exercised “poor judgment” in some situations involving models and photographers.
The company and Mr. Marciano, who hasn’t admitted wrongdoing, have reached settlements with five people totaling $500,000 to resolve claims of allegations of inappropriate conduct from the Guess executive, a securities filing by the company said Tuesday.
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