New details about Paul Marciano's departure from Guess

NEW YORK -- Paul Marciano has resigned as executive chairman of the fashion brand Guess following accusations of sexual misconduct. Marciano, without admitting to any wrongdoing, has settled with five accusers, including model Kate Upton.

The investigation into allegations of sexual harassment and assault by Marciano, 66, began in February, a few weeks after model and actress Kate Upton tweeted: "It's disappointing that such an iconic women's brand Guess is still empowering Paul Marciano as their creative director."

According to a company filing with the securities and exchange commission, the allegations against Marciano included "claims of inappropriate comments and texts, and unwanted advances including kissing and groping."

"This is literally the least that Guess could do," said Lisa Bloom, an attorney who represents four of the women who settled with the company. "I think it's time for Guess to make a public statement condemning Paul Marciano."

Marciano co-founded Guess in 1981 alongside his brothers, and helping propel the careers of so-called Guess girls, into now famous supermodels like Claudia Schiffer, Naomi Campbell and Anna Nicole Smith.

In a February interview with Time magazine, Upton alleged Marciano groped her, allegations that Marciano denies.

Paul Marciano forfeited his salary during the investigation but will be paid by Guess from June 11 through next January. According to a recent Securities and Exchange Commission filing, he was set to make just under $1 million this year.

  • Elaine Quijano

    Elaine Quijano was named a CBS News correspondent in January 2010. Quijano reports for "CBS This Morning" and the "CBS Evening News," and contributes across all CBS News platforms. She is based in New York.