Advertisement

Esprit Names New Chief Executive

From Associated Press

Joseph E. Heid has been named chief executive of the struggling Esprit de Corp, the company’s board has announced.

Heid succeeds Jay Margolis, who resigned in January. Margolis took the helm at the San Francisco-based company in 1996.

Heid joins Esprit from Revlon, where he served as president of its international division. He also was CEO for Sara Lee Personal Products.

“With his guidance and direction, we know we will achieve our goal of continuing to grow our business and ensuring our reputation as a premier name in women’s apparel,” the board of directors said in a statement Monday.

Advertisement

At its peak in 1989, Esprit had 80 stores and discount outlets around the country. It now has 19 full-price stores nationwide and 23 outlet stores. Esprit also operates “shop-in-shops” in more than 200 major department stores in the U.S. It operates five California stores, including outlets in Pleasanton and Santa Clara.


Advertisement