The cash portion of Paul Marciano’s compensation at Guess Inc. nearly doubled last year while his total reported pay package slipped nearly 40 percent.
Marciano, cofounder, vice chairman and chief executive officer of Guess, had total compensation of $8.8 million during the fiscal year ended Feb. 2, down 38.9 percent from the $14.4 million reported in 2011, according to the company’s definitive proxy filed with the Securities and Exchange Commission Wednesday. Yet the cash portion of his pay — salary, nonequity incentive plan compensation and “other” payments — rose 95.7 percent to $6.9 million from $3.5 million in the prior year.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"