Fashion brand and retailer Esprit has hired Thomas Tang as its new CFO and executive director, following the decision by predecessor Chew Fook Aun to step down due to "personal reasons" last year.

Tang will lead and oversee the finance and accounting functions, as well as other corporate functions including legal and compliance, company secretary, tax, investor relations, IT, treasury and internal audit.

"Thomas will spend at least half of his time in Europe and work together with me and the rest of the board of management to ensure timely and smooth execution of the transformation plan," Ronald van der Vis, group CEO.

When Chew handed in his resignation he said he was unable to travel extensively to Europe to carry out the troubled brand's transformation plan.

Prior to joining the company, Tang served as executive director and CFO of property developers Sino Land Co and Sino Hotels (Holdings).

Last year, Esprit unveiled a bold turnaround strategy, including divesting its North American operations as well as its retail businesses in Spain, Denmark and Sweden.

The company said it was also seeking a licence partner in the region, a new branding strategy, a new sourcing strategy and a new wholesale strategy.