Apparel maker Guess Inc. (GES) has hired Nike Inc. (NKE)
executive J. Michael Prince to be its new chief operating officer,
replacing Carlos Alberini, who left in June.
Prince will join the company Nov. 15. He was most recently the
chief financial officer of Nike's affiliates division, where he had
been since last year, after spending three years as CFO of another
Nike subsidiary, Converse.
Prince brings "an impressive track record in the areas of
finance, international infrastructure management and
enterprise-wide business transformations, and has been instrumental
in developing and executing strategies to support the global
expansion of several lifestyle brands," said Guess Chief Executive
Paul Marciano.
Alberini left the company in June to become the co-CEO of
Restoration Hardware Inc. (RSTO). He remains on Guess' board.
In August, Guess said its fiscal second-quarter profit climbed
12% as it saw a jump in North America wholesale and Asia revenue,
though Marciano warned that economic conditions remain uncertain in
many markets and consumers are still cautious.
Shares closed Tuesday at $42.22 and were inactive premarket.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com