Esprit chief executive to step down

Esprit Group has announced that Anders Christian Kristiansen has resigned as chief executive due to “his pursuit of other business commitments”.

He will remain with the company until 28 February 2021.

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In addition, Esprit’s chief financial officer Johannes Georg Schmidt-Schultes is to leave the business.

The announcement follows a call earlier this year by Esprit major shareholder North Point Talent for the pair to step down.

In a statement, Esprit said Kristiansen and Schmidt-Schultes had no disagreement with the board and that the company’s global administrative functions will now be based in Hong Kong.

Kristiansen became group chief executive in June 2018 and has been working to reposition the business in response to what Esprit described as a challenging global retail environment.

Commenting on the departures, Esprit said:” The board would like to take this opportunity to express its sincere gratitude to Kristiansen and Dr Schmidt-Schultes for their valuable contribution to the company during their tenure of office.”

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