Around the Net
Esprit Shakeup
- Bloomberg , Thursday, June 14, 2012 10:25 AM
The chairman of Esprit Holdings Ltd. has resigned a day after Chief Executive Officer Ronald Van der Vis quit. Esprit stock slumped 22%, its biggest drop since 1997. Hans-Joachim Koerber resigned as chairman and Raymond Or Ching Fai takes over, Esprit said after the market closed. The departures are the latest hurdle for the company that in September reported a 98% decline in fiscal year profit. The apparel maker said its brand had “lost its soul.”
