Guess co-founder and chairman to retire

Los Angeles -- Guess announced Monday that its co-founder and chairman Maurice Marciano will retire as chairman in January 2012, at the end of the company’s fiscal year.

Marciano will continue as non-executive chairman of Guess' board of directors, and the company will retain him for two years as a consultant.

Marciano, who hails from southern France and with his brothers founded Guess in 1981, was CEO and co-CEO from 1993 to 2007.

“I am proud of the work we have done and of the strong management team that we have assembled,” said Marciano in a statement.

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