FIRST AIRED: February 20, 2018

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Transcript

00:00:00
>> You look beautiful, Kate Upton!>> A tweet from a former swimsuit model may have cost a fashion executive his job, at least for now. Guess, on Tuesday, announced co-founder Paul Marciano will give up his day to day duties at the company on an unpaid basis. While the fashion line probes accusations of improper conduct.
00:00:19
The fallout comes after model and actress Kate Upton criticized the company in a tweet. On January 31st she wrote, it's disappointing that such an iconic women's brand, Guess is still empowering Paul Marciano as their creative director, #metoo. Upton told Time magazine Marciano verbally harassed and touched her inappropriately when she was 18 years old and that the behavior continued for years.
00:00:43
Marciano and the company denied the allegations. The Me Too movement has surged since the revelation of accusations of sexual misconduct against powerful men, such as media mogul Harvey Weinstein. But relatively few men at publicly traded companies have been forced out so far, the notable exception being casino magnate, Steve Wynn.
00:01:03
Guess shareholders though, may have demanded action, the day Upton tweeted about Marciano. The stock plummeted and has not recovered, it fell further Further on Tuesday. The company's hired an outside law firm to investigate the matter.