Guess Names New CEO as Co-Founder Shifts Role

Guess has named fashion industry veteran Victor Herrero as CEO of the clothing and accessories company, ending an era of family leadership. Guess was established in 1981 by the Marciano brothers. Paul Marciano, its current CEO, will replace his brother Maurice Marciano as executive chairman of the board. He'll keep his title as chief creative officer. Maurice Marciano will remain a director. The brothers have shared the role of CEO over the years, with Paul Marciano taking over as sole CEO in 2007.