Guess Loses Two Execs, Shares Fall

The CFO and COO both announce plans to leave

   

Guess Loses Two Execs, Shares Fall

Guess retailer 630 flickr 300x199 Guess Loses Two Execs, Shares FallIt’s often not good when senior executives leave a firm. But that’s what has happened to Guess (NYSE:GES) this week.

Guess Chief Financial Officer and Senior Vice President Dennis Secor and Chief Operating Officer J. Michael Prince will be leaving the firm before the new year. Secor will depart on Dec. 7, 2012, and Prince’s last day will be Nov. 26, 2012. Both left to pursue other interests.

Nigel Kershaw, VP for finance and accounting, will become the interim CFO upon Secor’s departure. Guess has no direct plans to replace Prince. CFO responsibilities will be distributed throughout the firm to existing executives.

Shares in the clothing maker dropped more than 7% in after-hours trading on Thursday and had declined another 4.5% by noon on Friday.

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