One month after promoting Sandeep Reddy to take over as its new chief financial officer, apparel company GUESS? (GES -1.23%) is getting a new COO as well.
On Wednesday, GUESS announced that it has promoted Chief Information Officer Michael Relich to the position of chief operating officer. In a statement, GUESS described Relich as "an industry leader in retail technology, having been named Retail CIO of the Year for Strategic Impact by a leading retail industry publication in 2011 ."
In an SEC filing, GUESS advised that it will be paying Relich an annual salary of $550,000, plus an annual bonus targeting 50% of base salary; an annual equity award targeting 60% of salary in value; an initial equity award of 20,000 shares of restricted stock, vesting over four years; and 30,000 stock options, also vesting over four years.
