The former CEO of New Look, Anders Kristiansen, has joined Esprit in the same role.
Current Esprit CEO, José Manuel Martínez Gutiérrez, will step down on 1 June.
Raymond Or Ching Fai, who is currently the independent non-executive chairman, will become the executive chairman from 1 April, in order to play a “more active role” in the next phase of the group’s strategy, which includes a “very ambitious plan” for China.
Kristiansen left New Look in September after a five-year year stint, following poor trading.
Or Ching Fai said: “Kristiansen is a well-rounded and seasoned executive in the fashion industry, with extensive experience in successful business development both in Europe and Asia, especially China. As former CEO of New Look Retail Group, Kristiansen has a sound track record of leading complex growth and expansion projects. The board has every confidence that Kristiansen will successfully lead Esprit into the next phase of growth and look forward to working with him to achieve that goal.”
At Esprit Kristiansen will be paid an annual salary of €1.4m (£1.2m), with an annual bonus of €1.4m (£1.2m).
Prior to his role at New Look, Kristiansen led Bestseller’s Chinese operations.