Victor Herrero to succeed Paul Marciano as new Guess CEO

Guess Inc co-founder and CEO Paul Marciano will be succeeded by Victor Herrero as the new CEO starting this month. The decision comes with Paul replacing Maurice Marciano as executive chairman of the board and will continue serving as chief creative officer, while Maurice will remain a director and has been named chairman emeritus by the board of directors.

Herrero joins Guess with over twenty years of global experience spanning Europe and Asia. He has served as the head of Asia-Pacific for Inditex Group. In the past 10 years, Herrero was responsible for building Inditex’s multi-billion dollar business in Asia.

“Maurice and I have been working with the board for over a year now to select the right candidate to be my successor as CEO of Guess. The most important criteria in our view are the understanding of our brand, which will celebrate its 35th anniversary next year, the complexity of our business being in over 90 countries with more than 25 categories of products and having a deep understanding of the changing environment of the retail world,” shares Paul.

“And we believe Herrero is the perfect top executive because, in addition to his entrepreneurial spirit, he has unparalleled experience in building a large business in Asia. He has a deep understanding of the current world of retail, and he is extremely knowledgeable in best-in-class sourcing and supply chain.”

“I am excited at the opportunity to work with Paul, Maurice and the team at Guess at the forefront of more than 90 markets worldwide. It’s a pivotal time for Guess, and I look forward to joining a group that is poised to continue as an innovative leader in the fashion industry. I am particularly thrilled to have the opportunity to use my background and to contribute my skills in order to unlock a tremendous amount of value for our shareholders,” Herrero adds.

EndFragment

Original Article