Reuters: Global Markets: Esprit rises 6.3 percent after CEO reassures on turnaround plan

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Esprit rises 6.3 percent after CEO reassures on turnaround plan Jun 15th 2012, 02:11 Tweet Share this Email Print Related News Esprit says board shakeup won't derail turnaround 12:43pm EDT RPT-Esprit outgoing CEO says restructuring plan to go on 10:17am EDT Esprit shares extend slide after resignations Wed, Jun 13 2012 Esprit's chairman resigns in double blow as shares plunge Wed, Jun 13 2012 Esprit set to plunge 17 pct afters says CEO resigned Tue, Jun 12 2012 Related Topics Hot Stocks » Asian Markets » A company logo of Esprit is displayed during a news conference in Hong Kong September 15, 2011. Credit: Reuters/Tyrone Siu HONG KONG | Thu Jun 14, 2012 10:11pm EDT HONG KONG (Reuters) - Shares of Esprit Holdings Ltd (0330.HK) were set to open up 6.3 percent on Friday after the outgoing chief executive sought to reassure investors that a costly restructuring is on track despite his and the company chairman's resignation. The fashion retailer's shares, which lost about one-third of their value in the last two days following news of the resignations, were set to open at HK$9.81. That was compared with a 0.62 percent gain in the benchmark Hang Seng Index .HSI Outgoing chief executive Ronald van der Vis said late on Thursday that his family was the only reason behind his resignation from the retailer and that a crucial turnaround plan would go ahead as planned. He said the timing of the double resignations had been "unfortunate" but his case was unrelated to that of Chairman Hans Joachim Korber, who quit on Wednesday. (Reporting by Donny Kwok; Editing by Michael Urquhart) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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