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Guess Inc. disclosed on Aug. 19 that Markus Neubrand, its chief financial officer (CFO) would depart his executive role and the corporate. The move set off a search process for a alternative on the apparel brand as an interim CFO takes Neubrand’s place.
Guess ranks No. 176 in Digital Commerce 360’s Top 1000 list of North America’s largest online retailers. There, Digital Commerce 360 categorizes it as an Apparel & Accessories retailer. Digital Commerce 360 projects that web sales for Guess will reach $537 million in 2024.
Guess web sales by 12 months
Who’s the brand new interim CFO at Guess?
Following Neubrand’s resignation, which he submitted Aug. 17, the Guess board of directors named Dennis Secor to take over duties as interim CFO. Secor’s appointment became effective Aug. 26, in accordance with a filing with the Securities and Exchange Commission. Secor, who has been executive vice chairman, finance at Guess since July 2023, previously held the roles of senior vice chairman and CFO there from July 2006 to December 2012. Moreover, he served as interim chief accounting officer from March 2022 to April 2023, and interim CFO from March 2022 to July 2023.
“It’s a transformative time at Guess?, and I’m able to hit the bottom running because the team works to construct on our forward momentum, strengthen our brands and proceed to deliver value for our shareholders,” Secor said in a released statement.
Secor assumes the interim CFO role within the aftermath of a deal that saw Guess acquire the Latest York-based clothing brand Rag & Bone in April. Guess integrated the corporate with existing segments. Rag & Bone’s mental property falls under the ownership of a three way partnership owned by Guess and the brand management firm WHP Global.
“We’re again thankful to Dennis for taking up this essential interim role as we conduct our seek for our next CFO,” said Carlos Alberini, CEO at Guess. “With Dennis’s extensive experience and leadership and our strong finance team, we’re confident that we are going to not miss a beat.”
Neubrand’s resignation as Guess CFO
“On behalf of your entire Guess? team, I need to thank Markus for his contributions to the expansion and success of the Company,” Alberini said. “We wish him all the perfect as he embarks on his next skilled opportunity.”
Neubrand joined Guess on Aug. 1, 2023. Previously, he was CFO at the posh clothing brand MCM Worldwide. His arrival accompanied a financial reorganization on the time.
Now, he’ll depart to “pursue one other opportunity that may bring him closer to his family,” in accordance with a press release from Guess.
Officially, Neubrand will remain a Guess worker until Sept. 30.
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