with contributions from Ellen Sheng
 on June 13, 2012

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.

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