In a letter to the Guess’ board, Legion Partners Asset Management noted that Paul Marciano has been “publicly accused of sexual misconduct by at least 11 women” since 2009.
. The firm said it is “deeply concerned” that board members have not already acted to oust him.
“We do not believe that Guess will ever be able to reach its full potential with the persistent overhang of legal, reputational and moral risk that accompanies the Marciano brothers remaining on the Board or continuing to serve in any role inside the Company,” the activist firm’s managing directors said in the letter.
that Legion has “resurfaced information related to one of the company’s co-founders, the details of which come from public information, including the company’s own disclosure on these matters.”
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