The board of Esprit has announced another major management setback. After the resignation of the company’s CEO ­Ronald Van der Vis who has resigned as executive director and group chief executive officer of Esprit for personal reasons, as the company announced, the chairman and independent non-executive director Hans-Joachim Körber steps also down on heels of CEO exit.

Van der Vis resignation is effective on or before 1 July 2013. Körbers resignation is effective on June, 13. His successor is Mr Raymond Or Ching Fai, who is an Independent Nonexecutive Director of the Company. He has been appointed as the Chairman of the Board effective on 13 June 2012.

In September 2011, the Company announced its Transformation Plan leading up to 2014/15 and the Company has now moved into the execution phase.