An Esprit advertisement.

BEIJINGEsprit Holdings is on the hunt for a new chief product officer to replace Rafael Pastor Espuch, who will step down from the role effective May 17. It’s yet another shakeup at the mass market retailer, which soon will usher in a new chief executive officer as it attempts another turnaround.

The company said that since his arrival in November 2013, Pastor Espuch “has led the Esprit product divisions globally and has made great contribution to Esprit, by optimizing the product development processes, in-sourcing key production functions, and creating a strong category management structure.”

“Upon the completion of this important step,” the executive “has expressed his wish to pursue his career outside Esprit,” said the company. While signaling regrets for the decision, Esprit stated its “gratitude” for Pastor Espuch’s “strong commitment and professional performance during his tenure of service.”

Pastor Espuch was a strategic hire under the tenure of Esprit’s outgoing ceo José Manuel Martínez Gutiérrez, both coming from Inditex Group. Martinez is due to relinquish his duties on June 1, with the previous New Look ceo Anders Kristiansen to succeed him.

The retailer has been beset with years of falling sales and is making a series of big moves as its new management comes into place. Two weeks prior, it announced it would exit the Australia and New Zealand markets, which are unprofitable for the company.

load comments
blog comments powered by Disqus