An activist investor is calling for the co-founders of
Guess Inc.
to be removed from the clothing maker’s board, arguing that sexual-misconduct allegations against one of the men threaten its turnaround efforts.
Legion Partners Asset Management LLC has a roughly 2.5% stake in Guess and has been urging it to remove Paul Marciano and his brother, Maurice Marciano, according to a person familiar with the matter and a letter sent to the company’s board Monday that was viewed by The Wall Street Journal.
Paul Marciano, who the activist also wants removed from his position as chief creative officer, has been publicly accused of sexual misconduct by multiple women in recent years. Legion argues that Maurice Marciano is also to blame for turning a blind eye to his brother’s…
