J. Michael Prince, chief financial officer of the Nike affiliates division of Nike Inc., has been named chief operating officer of Guess Inc., effective Nov. 15.
This story first appeared in the October 14, 2010 issue of WWD. Subscribe Today.
He will report to Paul Marciano, vice chairman and chief executive officer of the firm, and succeed Carlos Alberini, who resigned in May to join Restoration Hardware as co-ceo. Alberini also served as president of the company, a post that hasn’t been filled. The company said its search for a president of the Americas, announced at the time of Alberini’s departure, is ongoing.
Prior to taking the post of cfo for Nike affiliates in 2009, Prince spent three years in the same post for Nike’s Converse Inc. subsidiary. He’s also held financial posts with BancFirst Corp. and PricewaterhouseCoopers LLP.
Marciano said Prince “brings to Guess 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.”
When Guess reported its second-quarter financial results on Aug. 25, Marciano said, “Our brand has tremendous momentum around the world, and there are many markets where Guess is well known but underpenetrated. We remain fully committed to expanding our business internationally, and developing Europe and Asia remain our top priorities.”
In the three months ended July 31, revenues expanded 10.5 percent to $577.1 million. Asian revenues grew 42.8 percent to $42.2 million, while those in Europe moved up 5.8 percent to $222.3 million.