Earlier in February, model and actress Kate Upton tweeted, accusing Marciano of using his power to harass women.
The fashion retailer said on Tuesday many of the allegations, which included inappropriate comments and texts and unwanted advances, could not be corroborated.
However, Guess said the investigation found that Marciano on certain occasions exercised poor judgment in his communications with models and photographers.
Guess appointed Paul Marciano`s brother, Maurice Marciano, as chairman of the board. Paul Marciano will remain on the board.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)