There’s no more questioning who will be the new head at Guess Inc.
The Los Angeles fashion giant announced Tuesday that co-founder and Chief Executive Paul Marciano will step aside in August. He will be replaced by Victor Herrero, managing director for Asia at the Spanish clothing company Inditex Group, which holds big name brands such as Zara.
“We believe that Victor is the perfect top executive because, in addition to his entrepreneurial spirit, he has unparalleled experience in building a large business in Asia,” Marciano said in a press release. The search for a successor to Marciano took a year.
Marciano, who served as chief executive since 2007, will stay on as chief creative officer and replace his brother, Maurice, as chairman of the board. Maurice Marciano, who will remain a director, was been named chairman emeritus.
Company officials could not be reached for comment.
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