Stefan Persson will step down as chairman of the board and proposes his son Karl-Johan Persson to succeed him.
H&M changes its management team. Karl-Johan Persson, who has been chief executive officer of the group for more than ten years, is leaving the role. Helena Helmersson, chief operating officer, will be taking on the reins as the new CEO.
Persson will succeed his father, Stefan Persson, as chairman of the board of directors. After 20 years as chairman, Persson will not stand for re-election at the annual general meeting on May, 7.
The new CEO of H&M has developed all her career at the Swedish group. She joined H&M in 1997 as an economist at H&M’s buying department and thereafter held various roles within buying and production.
H&M’s new CEO was previously sustainability manager and production manager at the group
She was also sustainability manager for fiver years and after that production manager, based in Hong Kong. For just over ay ear she has been chief operating officer with responsibility for expansion, logistics, production and IT.
“Helena will continue to work on the plan that we have adopted for 2020 and onwards”, stated Karl-Kohan Persson, who said she was “an experienced and great leader who embodies our values”.
Jyrki Tervonen, CFO of the H&M group since 2008, will become chief executive officer at Ramsbury Invest, the parent company of the fashion group. He will take up his new position on July, 1 and will be succeeded at H&M by Adam Karlsson, currently head of controlling at the H&M brand.