US: Guess CFO and COO depart
Fashion firm Guess Inc has announced the resignation of chief financial officer Dennis Secor and chief operating officer Michael Prince.
Both are leaving the company to pursue other interests. Secor will remain with the company until 7 December, while Prince will stay there until 26 November.
Nigel Kershaw, vice president of financial and accounting and treasurer, has been appointed as CFO.
The company, which operates 511 stores across the US and Canada, said it will not replace the COO position. Chief information officer and executive vice president Michael Relich will assume additional responsibilities, including logistics.
Last month, the company appointed Gilles Bariguian to the newly-created role of managing director for Europe, the Middle East and Africa.
|Guess?, Inc. Announces Senior Management Changes|
LOS ANGELES, Nov. 1, 2012 /PRNewswire/ -- Guess?, Inc. (NYSE: GES) today announced the resignations of two of its executive officers, J. Michael Prince, Chief Operating Officer, and Dennis Secor, Senior Vice President and Chief Financial Officer of the Company. Both are leaving to pursue other interests. Mr. Prince will remain with the Company until November 26, 2012 and Mr. Secor will remain with the Company until December 7, 2012.
Paul Marciano, Chief Executive Officer, stated, "We wish Michael and Dennis well in their future endeavors and thank them for their contributions to our Company. Given the depth of our management team, we expect a very smooth and orderly transition."
The Company does not have any immediate plans to replace the COO position and will realign these responsibilities among various senior executives. Michael Relich, Executive Vice President and Chief Information Officer, will assume additional operational responsibilities, including logistics. Mr. Relich has been with the Company as its CIO for eight years.
Nigel Kershaw, Vice President of Finance & Accounting, and Treasurer, will assume the role of Interim Chief Financial Officer as ofDecember 7, 2012. Mr. Kershaw has been with the Company for the past seven years in various roles of increasing responsibility.
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, footwear and other related consumer products. Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world. As of July 28, 2012, the Company directly operated 511 retail stores in the United States and Canada and 300 retail stores in Europe, Asia and Latin America. The Company's licensees and distributors operated an additional 815 retail stores outside of the United States and Canada. For more information about the Company, please visitwww.guess.com.
Original source: http://investors.guess.com/phoenix.zhtml?c=92506&p=irol-newsArticle&ID=1753372&highlight=
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