BERLIN — Esprit suffered a second major management setback Wednesday with the resignation of the company’s chairman and independent non-executive director Hans-Joachim Körber. Esprit chief executive officer Ronald Van der Vis stepped down from his post on Tuesday, sending Esprit’s shares into a tailspin.
Prior to the announcement of Körber’s departure, the Hong Kong-listed company suspended trading from 1:30 p.m. Wednesday, June 13, to 9 a.m. Thursday, June 14, Hong Kong time. Shares dropped 22 percent to close at 10.54 Hong Kong dollars, or $1.36 at current exchange, prior to trading being suspended.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"