After the close of trading yesterday, clothing producer and retailer Guess? (NYSE:GES) said its co-founder and chairman Maurice Marciano has notified the company that he intends to retire as an executive officer in late January 2012. He will continue to serve the company as non-executive chairman of the board of directors.
Marciano founded the company with his brothers in 1981.
Also late yesterday, The Chubb Corporation (NYSE:CB) specified losses from catastrophes in April and May to be recorded in its second quarter earnings results.
Losses, related to tornadoes and sever storms in the U.S., totaled $250 million to $310 million before tax, or $0.55 to $0.68 per share after tax.
Chubb releases its full results for the second quarter on July 21.
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