Paul Marciano, co-founder of Guess? Inc., announced Tuesday that a fashion retailer executive who’s been working in Asia for the past decade will succeed him as CEO next month.
Victor Herrero joins Guess? with more than 20 years of global experience spanning Europe and Asia. For the past 10 years, he’s headed the Asia Pacific arm of Inditex Group, a fashion retailer whose brands include Zara, Massimo Dutti, Bershka and Stradivarius.
Herrero, who’s been with Inditex for 12 years, started his career with the company in Europe. He was previously a management consultant working for Arthur Andersen in Asia and holds an MBA from the Kellogg School of Management at Northwestern University.
Also today, Paul Marciano announced today that he will replace brother Maurice Marciano as executive chairman of the Guess? board and will continue serving as chief creative officer.
Maurice Marciano will remain a director, and has been named chairman emeritus by the board of directors.
The Marcianos said they worked with the board for more than a year to choose a new CEO of the Los Angeles-based company, which will mark its 35th anniversary next year and operates in more than 90 markets worldwide.
Guess? was one of the first companies to create designer denim. Its apparel and products are distributed through branded Guess? stores, as well as department and specialty stores around the world.
— Wire Reports