Guess on Friday said it shaped a particular committee to supervise an ongoing investigation into allegations of sexual harassment and different improper conduct by Paul Marciano, the specialty attire retailer’s CEO.
Marciano has feverishly denied these allegations ever since actress and model mannequin Kate Upton last week known as out the co-founder for allegedly utilizing “his energy within the trade to sexually and emotionally harass ladies.”
Guess has mentioned it will not “condone such misconduct in any kind,” and has introduced on legislation corporations O’Melveny & Myers and Glaser Weil to help. The corporate has promised “an in depth and neutral investigation into the entire information.”
Marciano’s workplace did not instantly reply to CNBC’s request for remark.
In an interview with Time Magazine earlier this week, Upton mentioned about her experiences with Marciano: “It took an enormous toll on my confidence and self-worth. I wished to give up modeling. I continuously blamed myself after it occurred: What am I doing to ask somebody to deal with me like that or seize me like that?”
“The tradition of complacency and tolerance in our trade must cease,” she mentioned. “The folks round within the company workplaces or across the harassers every single day know of each time they do that. They’re those who want to talk out.”
Guess shares are down about eight % for the 12 months, having cratered following Upton’s preliminary accusations on Jan. 31. The inventory is up about 16 % from a 12 months in the past.