Pursuits
Esprit Chairman Resigns After CEO Amid Push to Revive Profit
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Esprit Holdings Ltd. reported the resignation of its chairman a day after Chief Executive Officer Ronald Van der Vis quit, jeopardizing the apparel retailer’s turnaround plans.
Esprit stock slumped 22 percent to HK$10.54, its biggest drop since October 1997, before trading in the shares was suspended in Hong Kong. Hans-Joachim Koerber resigned as chairman and Raymond Or Ching Fai takes over effective today, Esprit said after the market closed today, after announcing yesterday Van der Vis is leaving.