Attached files
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| 8-K - GUESS INC | v183002_8k.htm |
Exhibit 99.1
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NEWS RELEASE
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For
Immediate Release
GUESS?, INC. ANNOUNCES
RESIGNATION OF DIRECTOR ALICE T. KANE
AND APPOINTMENT OF DIRECTOR
GIANLUCA BOLLA
LOS ANGELES, April 30, 2010 –
Guess?, Inc. (NYSE: GES) today announced that Alice T. Kane has resigned as a
non-employee director of the Company, effective immediately. Ms. Kane
tendered her resignation because of a potential differing interest between the
Company and her current employer that is unrelated to her service as a Board
member or her current employment.
“We have,
with reluctance and appreciation for her valuable service, accepted Alice’s
resignation from the Board,” said Maurice Marciano, Chairman of the
Board. “Alice has been a dedicated Board member and colleague since
joining the Board in June 1998. Her wealth of experience has made her
an important asset to the Company and its shareholders. We will miss
her, but we respect her decision to tender her resignation at this
time.”
The
Company also announced today that its Board has appointed Gianluca Bolla to its
Board, keeping the current number of directors at eight and the total number of
non-employee directors at five. Mr. Bolla, who will join the Board as
a Class I director, to hold office until 2012, will also serve on the Audit
Committee and Nominating and Governance Committee of the Board.
Mr. Bolla
brings to the Board a valuable and unique perspective into international growth
and management. From 1988 until 2007, Mr. Bolla held a number of
executive positions with various subsidiaries of Barilla Holding S.p.A., a
privately-held Italian food company with global revenues of over 4 billion
Euros. He ultimately served from 2001 until 2007 as chief executive
officer of Barilla G. e R. Fratelli S.p.A., a global business with revenues of
over 2.5 billion Euros. Since 2008, he has been a shareholder
and director of Accord Management, S.r.L., an Italian private equity firm that
specializes in the Italian mid-market.
“We are
delighted that Gianluca has joined our Board,” said Maurice Marciano. “His
experience as the chief executive officer of a large global business based in
Italy will be a great asset to our Board as we continue our global expansion
throughout Europe and beyond.”
Guess?,
Inc. designs, markets, distributes and licenses a lifestyle collection of
contemporary apparel, denim, handbags, watches, footwear and other related
consumer products. As of January 30, 2010, the Company operated 432
retail stores in the United States and Canada and 778 retail stores outside of
the United States and Canada, of which 125 were directly owned. The
Company also distributes its products through better department and specialty
stores around the world. For more information about the Company,
please visit www.guessinc.com.
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Contact:
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Guess?,
Inc.
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Investor
Relations
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(213)
765-5578
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Source:
Guess?, Inc.