Paul Marciano, the co-founder of fashion brand Guess, as stepped aside from the CEO role he has held for the last eight years.

Marciano will move into a new position as chief creative officer and take on the executive chairmanship.

A new CEO has been appointed: Victor Herrero, who most recently worked with Spanish fashion operator Inditex. Herrero headed the Zara chain’s Asian operations and brings vast international experience to the Guess role.

About 46 per cent of Guess sales are now outside the brand’s US home market and the company is keen to broaden its international expansion.

Guess is struggling to hold its position in the crowded international market for mid-tier fashion. The company’s earnings in the year to January 31 fell 41.8 per cent year on year to US$94.6 million.