HONG KONG: Esprit CFO to leave the company
Esprit has announced that its chief financial officer, Chew Fook Aun, has resigned from the company due to "personal reasons".
The fashion firm today (5 December) said Chew is stepping down as he is unable to travel extensively to Europe to carry out the troubled brand's transformation plan.
As part of efforts to turn around its business, Esprit has begun regrouping various strategic functions at its headquarters in Ratingen, Germany and in Europe. This would require the group chief financial officer to travel extensively to Europe to supervise proceedings, Esprit said. Chew is unable to spend the required time in Europe due to personal reasons, it added.
"The board regrets this, but respects Mr Chew's personal circumstances and his subsequent decision to pursue his career outside the company," a statement said.
Esprit in September announced plans to divest its North American operations as well as its retail businesses in Spain, Denmark and Sweden. The company is listed in Hong Kong, but its biggest market is Germany. As part of the plan, it is looking to develop its presence in Germany's neighbouring countries, Benelux and France.
Diesel has slammed a report in which it is accused of continuing to source its products from Bangladeshi suppliers that use sandblasting, despite the denim brand banning the practice. ...
Leading global brands and retailers including H&M, Levi Strauss, Carrefour and Tesco have backed a three-year programme to clean up production in the Bangladeshi garment industry....
Esprit saw its share price shoot up yesterday as the company recorded third-quarter comparable-store sales growth and completed the divestiture of its North American operations. ...
- Garment firms set sights on Vietnam amid TPP talks
- Changes in China cotton policies cause uncertainty
- Garment manufacturers eye Myanmar outsourcing
- Responsive supply chain key to Gap's growth plans
- String traceability tool goes back to basics
- Wage strike by Cambodia garment workers falls flat
- H&M still committed to higher wages and Bangladesh
- Vietnam Q1 textile and garment exports surge 21.9%
- Adidas supplier factory strike enters second week
- Alliance inspections more than 50% complete
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects
- Jeans in Italy