Esprit chief exits after less than a year

Esprit CEO, president, and executive director Mark Daley has exited the company after less than a year at its helm due to personal family matters.

“Mr Daley has confirmed that he has no disagreement with the board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the company,” the retailer announced on Thursday.

Daley, who was previously CEO of Billy Reid and group president of Ralph Lauren’s Asia-Pacific region, was appointed to the top job at Esprit at the beginning of 2021 as part of a major restructuring at the business which had suffered from years of revenue decline.

Daley joined as part of a shake-up that saw the departure of then-CEO Anders Kristiansen, who had been at the helm since 2018, as well as then-chief financial officer Johannes Schmidt-Schultes.

“The board would like to take this opportunity to express its sincere gratitude to Mr Daley for his contribution to the company during his tenure of office,” Esprit said.

William Eui Won Pak, who joined the company in September as executive director and chief operating officer, will take on the CEO position on an interim basis.

He is a New York attorney with over a decade of experience in leading companies in the financial services and fund management industry, and also has expertise in technology, alternative energy, mining, and real estate.

Pak is also the spouse of Esprit’s executive director and chair, Christin Su Yi Chiu.