Guess Inc. co-founder and Chief Executive Officer Paul Marciano appointed former Inditex Group executive Victor Herrero the apparel maker’s new chief executive starting in August, the company said in a statement late Tuesday. Paul Marciano will replace Maurice Marciano as executive chairman of the board and will continue serving as chief creative officer, the company said. Maurice Marciano will remain a director, and has been named chairman emeritus by the Board of Directors. Herrero most recently was responsible for building Inditex’s multi-billion dollar business in Asia, Guess said. Shares of Guess rose 0.2% in after hours Tuesday after ending the day also up 0.2%.
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