The Los Angeles-based fashion company revealed in a filing with the Securities and Exchange Commission that Marciano is resigning immediately as executive chairman of the Guess board, and his brother Maurice Marciano, another company co-founder, will take over.
The allegations first became public when model Kate Upton said in a Time magazine interview that Paul Marciano grabbed her breasts during a Guess photo shoot nearly eight years ago.
She also says that he harassed her by showing up at hotels where she was staying and texting her inappropriate comments.
“It’s disappointing that such an iconic women’s brand @GUESS is still empowering Paul Marciano as their creative director #MeToo,” Upton tweeted at the time.
Four brothers, including original designer George Marciano, in 1981 founded the brand whose denim became a phenomenon in the 1980s and 1990s.