Apparel retailer Esprit now has its third CEO since January after the sudden resignation of Mark Daley with immediate effect this week. 

In a statement to the Hong Kong Stock Exchange, Esprit chairman Christin Chiu said Daley has resigned all roles with the group due to “personal family matters” adding he has “no disagreement with the board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the company”. He was also the company’s president and an executive director. 

Daley took over the CEO role on January 1, from German Anders Kristiansen who led the company after it was relocated to Germany for a time.  

He will be replaced by William Pak, who joined Esprit as COO and executive director just last month. Pak is the spouse of Chiu. 

Daley has spent more than 35 years holding various executive positions across the globe with international brands including Smythson of Bond Street, Ralph Lauren, DFS Group and most recently Billy Reid. He said in January that he was honoured to be given the opportunity and be entrusted by the board of directors and shareholders “to be the next steward of the iconic Esprit brand”.

Pak is an attorney licensed by the New York state bar was described by the company as “a seasoned executive with extensive operating and management experience,” with more than a decade working with leading companies in the financial services and fund management industry. 

“His industry expertise also includes technology, alternative energy, mining and real estate,” Chiu said in September. “He is experienced in identifying and revitalising underperforming areas and driving favourable results while ensuring sustainable growth.”