Guess Inc. late Tuesday said Chief Operating Officer Carlos Alberini is resigning to become co-chief executive of Restoration Hardware.
The Los Angeles apparel and accessories company said that the resignation of Alberini, who also holds the title of president, is effective June 1. The company said that he will remain on the Guess board of directors even after leaving the company.
Prior to joining Guess in 2000, Alberini, 53, was chief financial officer of Footstar Inc.
Chief Executive Paul Marciano said the company will launch a search to fill the two positions.
"During his tenure with us, Carlos has made significant contributions to the growth and success of our company,” said Marciano in a statement. “He is an integrated part of our family and that’s why we asked Carlos to continue as a Guess board member. We completely support his new role in this great opportunity."
Restoration Hardware is an upscale retailer of home furnishings and accessories. It is based in Corte Madera in Northern California.
Prior to the announcement, shares closed down $2.78, or 6 percent, to $43.83 on the New York Stock Exchange.
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