Paul Marciano is taking a major backseat in the company he co-founded while an internal investigation is underway into his alleged sexual misconduct with models and employees.
Guess made the announcement Tuesday morning: "The Board of Directors and Mr. Marciano have agreed that Mr. Marciano will relinquish his day to day responsibilities at the Company, on an unpaid basis, pending the completion of the investigation."
The Blast broke the story regarding the multiple allegations into Marciano by aspiring models, and even Kate Upton has accused the fashion mogul of using his power in the industry to take advantage of women.
Marciano has denied all the allegations, and says "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."
As we previously reported, Marciano was refusing to step aside from his duties even though Guess was under major pressure to take action, but it appears he has had a change of heart.
Guess has formed a special committee to oversee the investigation and says "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."