Reuters: Global Markets: Esprit shares surge to highest in over a year as it hires another ex-Zara executive

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Esprit shares surge to highest in over a year as it hires another ex-Zara executive Oct 30th 2013, 02:10 Tweet Share this Email Print Reprints Related Topics Hot Stocks » Asian Markets » People shop at an Esprit Outlet store in Singapore September 10, 2013. Credit: Reuters/Edgar Su HONG KONG | Tue Oct 29, 2013 10:10pm EDT HONG KONG (Reuters) - Shares of retailer Esprit Holdings (0330.HK) jumped more than 7 percent on Wednesday after it said it had hired a former executive from rival Inditex (ITX.MC) as chief product officer, the latest hire of an employee from the Zara owner. When Esprit brought in CEO Jose Manuel Martínez Gutiérrez from Inditex last year, investors gave him a resounding vote of confidence and drove Esprit shares to notch their biggest one-day gain in 14 years. The company said late on Tuesday it had hired Rafael Pastor Espuch as its chief product officer. In May, the company also hired staff from its Spanish rival to drive its restructuring. Shares of Esprit rose to their highest in more than a year to HK$14.10, outpacing a 0.7 percent gain for the benchmark Hang Seng Index .HSI. (Reporting By Donny Kwok; Editing by Anne Marie Roantree) 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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