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Guess CEO Victor Herrero to step down


Jan 28 () - Apparel maker Guess Inc said on Monday Chief Executive Officer Victor Herrero will step down and named former top executive Carlos Alberini as his replacement.

Herrero, 49, will be with the company till Feb. 2.

It was not immediately clear why Herrero was leaving.

Marciano resigned after the company launched an investigation against him on allegations of improper conduct.

Marciano's brother Maurice, who took up the responsibilities of the chairman in June, will serve as interim chief executive officer until incumbent CEO Alberini joins the company.

Alberini was Guess's chief operating officer from 2000 to 2010, and until Monday head of jeans maker Lucky Brand.

Shares of Guess fell 11 percent to $20 in early trading.

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