Two Esprit Executives Call It Quits

Esprit Holdings Ltd. (Ratingen, Germany) ceo Ronald Van der Vis and chairman Hans-Joachim Koerber announced their resignations within one day of each other, leaving the company scrambling to name new leaders, the San Francisco Chronicle reports. The announcement follows two other resignations; the company’s cfo departed six months ago, followed by board member Francesco Trapani, who left four months ago.

The company has experienced declining profits during the past three years. A Deutsch Bank AG analyst told the Chronicle that operational issues or executive infighting could be to blame, but the company said both departing executives were leaving for personal reasons.