Guess Inc. Chairman Paul Marciano is relinquishing his day-to-day duties at the company in the wake of sexual-harassment accusations by model Kate Upton and other women.
The board and Marciano agreed that he should step away from the business without drawing a salaryuntil the completion of an investigation, the apparel seller said on Tuesday. A special board committee with two independent directors is overseeing the matter.
Marciano stepped down as CEO of Guess in 2015, but he has held sway over the company through his roles as co-founder, chairman and chief creative officer. He has denied the allegations, Guess said.