Maurice and Paul Marciano re-elected to Guess board

Guess has announced the preliminary results of its annual meeting of shareholders for the company’s board of directors, with shareholders voting to re-elect all four of its director nominees: Anthony Chidoni, Cynthia Livingston and Maurica and Paul Marciano.

In a release, Guess said it greatly appreciated the engagement of its shareholders.

It added: “Importantly, in our conversations, shareholders have recognised that Guess’ clearly defined transformation plan to elevate the Guess and Marciano brands, redefine the company’s global e-commerce strategy, optimise our store footprint, enhance our supply chain and drive efficiencies across the business is driving positive momentum and meaningful financial results.”

The news comes amid a withhold campaign by one of Guess’ main shareholders, Legion Partners, which requested the removal of the Marciano brothers from the board following a string of sexual assault allegations against Paul Marciano.

In response to the asset management firm’s public letter, Guess said it was to carry out an internal investigation but called the shareholder’s campaign “irresponsible” and a “massive distraction” from the company’s recent performance.

Guess said in its announcement: “The board and management team remain focused on advancing Guess’ momentum, executing our transformation strategy and driving long-term growth and value creation.”