Lucky Brand CEO resigns and takes same role at Guess

Carlos Alberini has resigned as Lucky Brand’s Chairman and CEO, effective immediately, the American denim label announced on Monday. Alberini, who served as Chief Operating Officer at Guess between 2000 and 2010, is going back to the company as CEO and Director. He will be succeeding Victor Herrero from February 2.

"I am very excited to have Carlos coming back as CEO at GUESS, Inc", said Maurice Marciano, Chairman of Guess' Board, in a statement. "He was instrumental in building the international business in Europe and Asia during his 10-year tenure with the company”.

Paul Marciano, who resigned as CEO and Chairman last year following sexual misconduct accusations by model and actress Kate Upton, has agreed to remain at Guess in the role of Chief Creative Officer. According to the company statement, his employment will be "at will".

Guess operates in over 100 countries, with 1,100 branded stores in the Americas, Europe and Asia, and 584 additional points of sale thanks to a worldwide network of licensees and distributors.

Lucky Brand announces CEO transition

As for Lucky Brand, the company has established an “Office of the CEO”, comprised of three senior executives, who will manage its operations until the Board finds a replacement for Alberini. They are Nigel Kershaw, Chief Financial Officer; Mike Relich, Chief Operating Officer; and Lexi Taws, Acting Chief Producing Officer.

“On behalf of the Board of Directors, I want to thank Carlos for his leadership of Lucky Brand. I am also thrilled with the partnership and alignment of the exceptional executives in the Office of the CEO, and I am confident that they and the entire Lucky Brand team will successfully lead the Company as it continues to execute its strategy," said Michael Kirton, Principal at Leonard Green & Partners, L.P, the private equity investment firm which owns Lucky Brand since 2014.

Founded in 1990 in Los Angeles, Lucky Brand offers vintage-inspired denim in more than 250 stores in North America, 15 of them in Canada, as well as in select department stores and the label’s ecommerce.

Picture: courtesy of Guess